24SR-0027: Auditing Complex Management Estimates (Virtual)
Thursday, November 7, 2024
1:00pm - 4:30pm Central Time
4 CPE (4 technical)
Accounting estimates are often some of the most difficult and subjective amounts included in U.S. GAAP financial statements. These estimates are pervasive and often sensitive to relatively small changes in assumptions or circumstances. This can have a significant impact on the recorded (or not recorded) estimate in the financial statements. In this course, review the relevant auditing guidance related to auditing estimates, including the estimate for credit losses under ASC 326. Dig into the three most common ways auditors can approach their audit of accounting estimates: waiting for the contingency to resolve itself; auditing the client's estimation process; and developing the auditor's point or range of estimate. Explore what has changed since SAS 143 became effective for 2023 audits.
Major subjects
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Common accounting estimates
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Accounting guidance related to loss and gain contingencies
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Audit guidance related to auditing accounting estimates
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Auditing expected credit losses under ASC 326
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Overview of the requirements of SAS 143
-
Key changes to auditing estimates due to the issuance of ASC 326
Learning objective(s)
-
Recall key presentation and disclosure requirements of ASC 326
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Recall key approaches to auditing accounting estimates
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Identify key provisions under SAS 143
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Identify common models used to estimate credit losses and other estimates under U.S. GAAP
Who should take this program?
Experienced auditors and auditors auditing CECL estimates under ASC 326 for the first time
Fees
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you are a
nonmember.
If you register, you will be charged
$259.00
(Standard Nonmember Fee).
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Standard Member Fee |
$209.00
|
Standard Nonmember Fee |
$259.00
|
Instructor
Marjorie Heap, CPA
Location
Online
Area
of study
Accounting & audit
Field(s)
of study
Auditing - Technical (4.0)
Level
Intermediate
Format
Group Internet Based
Sponsor
NASBA ID#: 139884
Prerequisites
Prereq.
Experience in accounting and attestation recommended
Advance
prep
None
Cancellation
policy
Receive a full refund if you cancel at least four business
days before the event start date.
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