Auditing Accounting Estimates - AASOC
Date recorded:
At its meeting on April 7, 2016, the AASOC received a report from the AASB regarding this project. The AASB discussed key issues raised by the IAASB’s task force including: (i) the relationship between complexity, lack of precision and estimation uncertainty; (ii) the scope of ISA 540 and whether it should be revised; and (iii) whether there should be a rebuttable presumption that estimates with high estimation uncertainty be considered a significant risk.
Review the minutes on the AASOC's Web site.
