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Peculiarities of Application of ISA 540 in Auditing Accounting Estimates

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dc.contributor.author Lapițkaia, Liudmila
dc.date.accessioned 2024-02-29T07:56:46Z
dc.date.available 2024-02-29T07:56:46Z
dc.date.issued 2023-09
dc.identifier.isbn 978-9975-167-39-0 (PDF).
dc.identifier.uri https://irek.ase.md:443/xmlui/handle/123456789/3091
dc.description LAPIȚKAIA, Liudmila. Peculiarities of Application of ISA 540 in Auditing Accounting Estimates. In: Competitiveness and Innovation in the Knowledge Economy [online]: 27th International Scientific Conference: Conference Proceeding, September 22-23, 2023. Chişinău: ASEM, 2023, pp. 387-395. ISBN 978-9975-167-39-0 (PDF). en_US
dc.description.abstract The audit of the evaluation of elements of financial statements in the modern market economy, is of particular importance, while various methods can be used: statistical, mathematical, costly, profitable, etc. At the same time, the auditor often faces uncertainty when evaluating a number of elements of financial statements. When conducting audit procedures, the auditor must take into account and assess the inherent risk, as well as the degree to which the accounting estimation is subject to uncertainty, the choice and application of the method, assumptions and data in calculating the accounting assessment, as well as the point assessment of the management of the audited entity and relevant information for inclusion in the financial statements. Having analyzed the provisions of ISA 540, taking into account the practical material, the author, using the data of a conditional example, concludes that when auditing accounting estimates, it is necessary to use the value of audit risk. The author has also developed a table that establishes the relationship between the results of deviations in accounting and audit estimates and the magnitude of audit risk and, accordingly, considers the response measures. DOI: https://doi.org/10.53486/cike2023.39; UDC: 657.6:061.2; JEL: M42 en_US
dc.language.iso en en_US
dc.publisher ASEM en_US
dc.subject audit en_US
dc.subject accounting estimate en_US
dc.subject audit risk en_US
dc.subject management’s point estimate en_US
dc.subject auditor’s range en_US
dc.title Peculiarities of Application of ISA 540 in Auditing Accounting Estimates en_US
dc.type Article en_US


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