This Auditing Standard is operative for financial reporting periods commencing on or after 15 December 2019. Early adoption of this Auditing Standard is permitted prior to this …

Understanding how the entity’s risk assessment process identifies and addresses risks relating to accounting estimates may assist the auditor in considering changes in: The requirements of the applicable financial reporting framework related to the …

Accounting estimate – A monetary amount for which the measurement, in accordance with the requirements of the applicable financial reporting framework, is subject to estimation uncertainty. (Ref: Para.  A14 …

Auditor’s point estimate or auditor’s range – An amount, or range of amounts, respectively, developed by the auditor in evaluating management’s point estimate. (Ref: Para.  A15 …

Estimation uncertainty – Susceptibility to an inherent lack of precision in measurement. (Ref: Para.  A16 , Appendix 1 ) …

Management bias – A lack of neutrality by management in the preparation of information. (Ref: Para.  A17 ) …

Management’s point estimate – The amount selected by management for recognition or disclosure in the financial report as an accounting …

Outcome of an accounting estimate – The actual monetary amount that results from the resolution of the transaction(s), event(s) or condition(s) addressed by an accounting estimate. (Ref: Para.  A18 …

(Ref: Para. 2 , 4 , 12(c) , A8 , A66 ) Introduction In identifying, assessing and responding to the risks of material misstatement at the assertion level for an accounting estimate and related disclosures, this Auditing Standard requires the auditor to …

(Ref: Para. A146 ) Matters that the auditor may consider communicating with those charged with governance with respect to the auditor’s views about significant qualitative aspects of the entity’s accounting practices related to accounting estimates and …