Thursday 23 May 2024


2:30 pm


1.5 CPD Hours

Session Topic

The fundamentals of ASA 540 Auditing Accounting Estimates and Related Disclosures

ASIC and others have identified that the auditing of accounting estimates and disclosures continues to be poor. This session will identify and address these concerns, review the relationship between planning and auditing accounting estimates, and the key principles in ASA 540. Future sessions will address the details of ASA 540.

The session looks at:

  • What has ASIC and other inspection programs revealed about the audit efforts on accounting estimates
  • The relationship between ASA 315 and ASA 540
  • The recent changes to ASA 540 resulting from ASA 315 consequential amendments
  • Key principles of ASA 540 – inherent risk factors, control risk, professional scepticism, concept of ‘reasonable’, and disclosure, and
  • Improving audit documentation.
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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.


Jessica-Anne Saayman

Director | QA Assist

Jessica is a result driven, energetic Independent Consultant and Specialist in Assurance Consulting Services with more than 26 years’ proven experience in technical, ethics, quality and peer reviews, accounting, listed and unlisted, multinational corporation, public sector audits, including advisory opportunities such as merger and acquisitions and forensics.

Her industry exposure includes healthcare, steel, property, manufacturing, distribution, consumer business, short term insurance, Not-For-Profit and government/public sector; with cumulative experience at partner level (mid-tier and big 4) in external audit for more than a decade.

Jessica is also recognised for her engaging presentations on technical and regulatory matters, having delivered content to national and televised audiences. She brings a unique perspective to the table, drawing from her past roles as Non-Executive Board Member, Treasurer, and Chair off an Audit of an Audit, Risk and Governance Committee.