AUDITNG UNCERTAINTY OF THE ACCOUNTING ESTIMATES IN FAIR VALUE ACCORDANCE WITH THE PROCEDURES OF THE INTERNATIONAL STANDARDS ON AUDITNG NO.540 FILED STUDY ON THE AUDIT OFFICES OPERATING IN JORDAN Cover Image

AUDITNG UNCERTAINTY OF THE ACCOUNTING ESTIMATES IN FAIR VALUE ACCORDANCE WITH THE PROCEDURES OF THE INTERNATIONAL STANDARDS ON AUDITNG NO.540 FILED STUDY ON THE AUDIT OFFICES OPERATING IN JORDAN
AUDITNG UNCERTAINTY OF THE ACCOUNTING ESTIMATES IN FAIR VALUE ACCORDANCE WITH THE PROCEDURES OF THE INTERNATIONAL STANDARDS ON AUDITNG NO.540 FILED STUDY ON THE AUDIT OFFICES OPERATING IN JORDAN

Author(s): Ahmad Adel Jamil Abdallah, Musab Shareef Salameh
Subject(s): Economy, Accounting - Business Administration
Published by: ЮГОЗАПАДЕН УНИВЕРСИТЕТ »НЕОФИТ РИЛСКИ«
Keywords: Auditing uncertainty; accounting estimates; Fair Value; ISA 540

Summary/Abstract: Accounting estimate in fair value is one of the most problems facing auditors during their career, this study try to investigate how auditors compliance with the procedures required by ISA 540 when auditing cases of the uncertainty of accounting estimates plus fair value measurement and disclosures in the financial statements. The researchers distribute a questionnaire to the auditing offices operating in Jordan (311 offices) to know how auditors comprehend the audit responses provided in ISA 540, questionnaires distributed to all these (150) auditors selected randomly, (117) questionnaires were returned. The study found the auditors in general compliance with procedures followed in international standard on auditing 540 when auditing cases of the uncertainty of accounting estimates with a high level except examination the management's assumptions about accounting estimates came with average level which may appear from management bias, then we found that the auditors compliance with procedures for measurement and disclosures in the financial statements, we recommended Follow-up changes and recent developments that may arise in the international accounting standards related to accounting estimates and the auditors should know the new procedures and policies established by the companies' managements to follow up the preparation of the accounting estimates.

  • Issue Year: 15/2019
  • Issue No: 1
  • Page Range: 42-52
  • Page Count: 11
  • Language: English