Audit and Accounting Estimates and the Related Disclosures  

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

• identify accounting estimates and related disclosures that are subject to estimation uncertainty under U.S. GAAP and explain why they present heightened audit risk;

• evaluate the impact of estimation uncertainty, management bias, and inherent risk on audit planning and the auditor's risk assessment process; and

• apply appropriate audit responses to accounting estimates, including testing management's process, developing an auditor's point estimate or range, and documenting significant judgments in accordance with SAS 143.