Auditing Complex Estimates Without Re-Preparing Them   New

Upon successful completion of this course, the user should be able to:

• identify key audit considerations related to complex accounting estimates, including management bias, estimation uncertainty, and the assertions most affected by estimate-related risks;

• recognize how SAS 143 and SAS 145 affect the audit of estimates, including separate assessment of inherent and control risk and the need for scalable procedures tailored to complexity and subjectivity; and

• apply practical audit approaches for evaluating the reasonableness of management's estimates, including retrospective analytics, testing assumptions and data, considering controls, and documenting procedures and conclusions.