Auditing guidance is provided for auditing accounting estimates specifically for fair values estimates as considerable auditor judgment is involved.
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Q124: Determining if the financial instruments included in
Q125: Assessing internal controls related to financial instruments
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Q128: Level 1 estimates require more management judgment
Q130: The auditor needs to have an understanding
Q131: Presentation and disclosure objectives are important when
Q132: There is significant potential for misstatements and
Q133: A factor that increases inherent risk for
Q134: Analytical procedures may be used to assess
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