Audit of Accounting Estimates

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14/10/2022 · 09:00 – 11:15

Get 2 Core CPE Hours accredited by


Making estimates is an inevitable part of preparing financial statements. Estimates vary in their complexity from routine estimates such as the expected life of property, plant and equipment, estimating appropriate allowances for receivables under GAPSME to more challenging estimates such as the assessment of expected credit losses for financial assets under IFRS9. By their very nature, estimates are subject to a high degree of uncertainty and inherent risk of misstatement.

ISA 540 (Revised) Auditing Estimates and Related Disclosures states that the auditor’s objective is to obtain sufficient, appropriate evidence on whether accounting estimates are reasonable, and related disclosures in the financial statements are adequate.

This seminar will focus on the requirements of ISA 540 (Revised) Auditing Estimates and Related Disclosures and the revisions made to this standard by the IAASB which are effective for financial statement audits for periods beginning on or after December 15, 2019. Furthermore, the seminar will also focus on practical ways the auditor makes a formal and documented assessment of the use of estimates by management.

John Debattista

Janice Lyn Schembri


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    09:00 – 11:15


    Janice Lyn Schembri, John Debattista

    Type of Certificate

    2 Core CPE Hours



    Delivery Method