NOTE: Course login details are normally sent to registrants within one week from date of registration.
Recorded: October 2021
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This course will provide an overview of Revised CAS 540 Auditing Accounting Estimates and Related Disclosures to help practitioners be mindful of the standard and its requirements. Revised CAS 540 has significant changes from the extant standard and it is important that auditors understand the requirements to conduct a quality audit. Using discussion, case studies and examples, participants will be able to identify the auditor’s responsibilities related to auditing accounting estimates and related disclosures and apply the standards when designing and performing procedures for audit engagements.
This course will provide an overview of the flow of requirements of the revised standard and highlight changes from existing standards. The material will cover the key aspects and provide an approach on meeting its requirements. Required risk assessment procedures as well as guidance on the three possible testing approaches in performing further audit procedures on accounting estimates will be provided. Other requirements such as separating assessing inherent and control risk, performing stand-back procedures and incorporating professional skepticism and meeting documentation standards will be addressed.
By the end of the session, participants will be able to:
WHO WILL BENEFIT
Practitioners who perform audit engagements and want to ensure they meet the requirements of Revised CAS 540 in an effective and efficient manner.