Tuesday 17 November 2020


2:30 pm


1.5 CPD hours

Session Topic

Another look at auditing accounting estimates and related disclosures through illustrative examples

Revised auditing standard ASA 540 Auditing Accounting Estimates and Related Disclosures still has a fresh-paint smell, having operated since only 15 December. A challenging standard for audit-team members to apply, the COVID-19 environment has made it even more tricky.

This session will focus on:

  • How to apply key requirements of ASA 540
  • Simple accounting estimate – inventory impairment, and
  • Complex accounting estimates – property, plant and equipment impairment, and accounting estimates of expected credit losses.
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This session is presented by:

Colin Parker

Principal | GAAP Consulting | Financial Reporting Expert

Colin, Principal of GAAP Consulting, is an expert in financial reporting, auditing and related governance issues, and was previously a member of the Australian Accounting Standards Board.

He has conducted many independent expert and consulting experts reports on professional negligence, and accounting and auditing standards. He is the team leader advisory and litigation services and adviser to GAAP Training and Reportfraud.