TITLE

AICPA Proposed Statement on Auditing Standards, Auditing Accounting Estimates, Including Fair Value Accounting Estimates and Related Disclosures (Redrafted)

PUB. DATE
December 2009
SOURCE
GAAS Update Service;12/15/2009, Vol. 9 Issue 23, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article discusses the proposed statement "Auditing Accounting Estimates, Including Fair Value Accounting Estimates and Related Disclosures," by the American Institute of Certified Public Accountants (AICPA). It states that the proposal requires the auditor to document the basis of his or her conclusions on the accounting estimates and management bias indicators. Also, an auditor is mandated to assess the adequacy of disclosure of the estimation and uncertainty in financial statements.
ACCESSION #
47027949

 

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