31386 paragraphs found
Matters that the auditor may consider in obtaining an understanding of how management selects the data on which the accounting estimates are based include: The nature and source of the data, including information obtained from an external information …
How management understands and addresses estimation uncertainty (Ref: Para. 13(h)(ii)(b)–13(h)(ii)(c) ) …
Matters that may be appropriate for the auditor to consider relating to whether and how management understands the degree of estimation uncertainty include, for example: Whether and, if so, how management identified alternative methods, significant …
The requirements of the applicable financial reporting framework may specify the approach to selecting management’s point estimate from the reasonably possible measurement outcomes. Financial reporting frameworks may recognise that the appropriate amount …
For example, with respect to fair value estimates, AASB 13 [39] indicates that, if multiple valuation techniques are used to measure fair value, the results (i.e., respective indications of fair value) shall be evaluated considering the reasonableness of …
The applicable financial reporting framework may prescribe disclosures or disclosure objectives related to accounting estimates, and some entities may choose to disclose additional information. These disclosures or disclosure objectives may address, for …
In some cases, the applicable financial reporting framework may require specific disclosures regarding estimation uncertainty, for example: The disclosure of information about the assumptions made about the future and other major sources of estimation …
Identified controls over management’s process for making accounting estimates (Ref: Para 13(i) ) …
The auditor’s judgement in identifying controls in the controls activities component, and therefore the need to evaluate the design of those controls and determine whether they have been implemented, relates to management’s process described in paragraph …