How to audit fair value measurements
Dec 01, 2017
On December 1, 2017, the Journal of Accountancy released an article on the audits of fair value measurements (FVM) and how they are challenging because the valuations are typically developed by management (or third-party valuation professionals retained by management) using significant professional judgment and other qualitative inputs.
This challenge is caused, in part, by a gap in understanding by each profession of what the other profession requires to successfully deliver its services. Thanks to a collaborative effort within the valuation profession, that gap may significantly narrow.
Review the full article on the Journal of Accountancy's website.
