CTHRepealedLegislation
ASA 540 - Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures - October 2009
Identifying and Assessing the Risks of MIdentifying and Assessing the Risks of Material Misstatement
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Identifying and Assessing the Risks of Material Misstatement
- In identifying and assessing the risks of material misstatement, as required by ASA 315,[5] the auditor shall evaluate the degree of estimation uncertainty associated with an accounting estimate. (Ref: Para. A45‑A46)
- The auditor shall determine whether, in the auditor’s judgement, any of those accounting estimates that have been identified as having high estimation uncertainty give rise to significant risks. (Ref: Para. A47‑A51)