Auditing and assurance alert: CAS 540 Compliance challenges when auditing accounting estimates

Learn about challenges auditors face when auditing accounting estimates and in meeting the requirements in CAS 540.

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Audit and Assurance Alert CAS 540 - Challenges in Complying with the Requirements When Auditing Accounting Estimates offers you an insight into the challenges auditors face when auditing accounting estimates, including a reminder of selected requirements, and potential actions to assist you in complying with the requirements.

You will learn how to:

  • understand management's process for making accounting estimates
  • assess whether accounting estimates have high estimation uncertainty and whether those estimates are significant risks
  • determine the degree of estimate uncertainty
  • determine if an accounting estimate with high estimation uncertainty gives rise to a significant risk
  • spot indicators of possible management bias


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