Gain insight into the skills and competencies required in the finance value chain of the future with the Transform Skills Certificate.
Learning Objectives
- Learning Outcomes
- Identify the significant risks and relevant assertions in assessing the risk of material misstatement of financial instruments included in the financial statements.
- Identify the key concepts of professional skepticism to the audit of financial instruments.
- Indicate whether it is appropriate to engage or rely on an employed valuation specialist during a financial statement audit that includes financial instruments.
- Identify key elements in understanding the entity that will assist in evaluating the appropriateness of the entity's segregation of duties and the effectiveness of management's valuation approach.
- Identify activities that can be performed by the internal audit function related to the valuation of and control procedures for financial instruments.
- Identify considerations management should apply when relying on third-party pricing specialists and other valuation specialists.
- Recall the audit requirements for assessing the appropriateness of impairment loses related to financial instruments and reasonableness of management's reported fair value measurement.
