ISA/ASA 540 Revised - Auditing Accounting Estimates

[@marvelouss719]

You are an amazing person. A mom who balances her love for auditing along with other competing obligations. You are inspiring. I wish there were more women like you in the world. God bless you.

[@aahilbabarqureshi5303]

your videos really helped understand these standards better... keep up the MAD word
👍

[@amandalovestoaudit]

Thank you 🙏

[@irfanmansoor3842]

Hi amanda your explanations are excellent

[@amandalovestoaudit]

Thank you! 😃

[@paulusamuthenu6984]

So i just realized this is the standard that isn't updated in my 2018/2019 std, this is really helpful. Thumbs up

[@amandalovestoaudit]

Thanks Paulus - it always does take a while for updates to get into books. Thanks for being such an active member of our audit community ❤️

[@paulusamuthenu6984]

@@amandalovestoaudit Thank you actually, you're making my audit experience fun

[@Mander9992]

Thanks for keeping up the content!

[@buredtx]

Oh! Audit junior in video!!! Cutie pie!!

[@naahidul]

Sir, thank you. Please carry on developing new videos every now and then.

[@veegava9882]

Thank you Amanda

[@LawrenceKanengebiza-zu6ev]

Great videos! Thanks Amanda

[@bahemisadan3684]

So cute kids. ☺

[@katemassop3670]

I know :-)

[@amandalovestoaudit]

Thanks! Given we are likely to be isolated soon - you’ll probably see more of them!

[@josephread4702]

Hi Amanda,
When was the original ISA 540 released?
Thank you for the informative video and the link!
God bless you and your precious family!

[@chirathmadhawa4756]

Hi Ms. Amanda, i really like ur videos and really appreaciate your work. Explanations and accent are really clear. If u can please do a video on ISA 620.

[@ugyenthinlay1094]

Do both public and private companies need to implement ISA 540 (revised)?

[@amandalovestoaudit]

Hi Ugyen - if they require an audit under your local authority's regulations, then yes - there are no changes for less complex entities.

[@henrybashirukoroma8748]

Please Dr Amanda help us with the notes

[@henrylow2248]

For a business dealing in all kinds of loose scrap and there is no perpetual inventory control system in place and management has estimated closing stock of scrap based on his experience, how does the auditor verify the stock under ISA 540?

[@hassnadarwish8723]

there are two standards on accounting estimates ( isa 540 & isa 540 revised). should we only read the revised one? do these standards complete each other or the revised one is sort of correction of the first standard?

[@amandalovestoaudit]

Hi Hassna - the Revised one is now what is in effect in most countries 😊

[@mokgethoa2494]

Methods
Assumptions
Data

[@amandalovestoaudit]

Spot on - we have to be MAD when auditing accounting estimates 😊

[@eijaz852]

Thank you Dr Amanda....love from South Africa.
Please can you also do Pre Engagement (ISQC1, ISA 210 & ISA 220)

[@amandalovestoaudit]

I already do have them - check the playlist - I’ve linked in the description ☺️

[@bahemisadan3684]

@@amandalovestoaudit I think you don't have ISQC1

[@katemassop3670]

@@amandalovestoaudit Hi Amanda, I've enjoyed watching your videos and have learnt so much. It would be really great if you could add a video for ISQC1 as I haven't seen one yet. Many thanks!

[@amandalovestoaudit]

Yeah - I don’t have ISQC1 - too many videos to make and too little time!

[@bahemisadan3684]

@@amandalovestoaudit However, thank you for sharing your knowledge to us! ♥

[@se7en_inch]

Considering the COVID-19 outbreak what are the strategies that The Audit Partner may implement in performing audits without spreading the virus?

[@amandalovestoaudit]

Most national standard setters are putting out advice and guidance to audit firms like this
www.auasb.gov.au/admin/file/content102/c3/AASB19009_COVID19_FA.pdf

[@rebeccavictor4665]

Thank you! New subscriber here.

[@amandalovestoaudit]

Welcome Rebecca!

[@aishwaryasrivastava2759]

method assumptions data sa 540

[@ddifferent21]

MAD

[@jacka5949]

Amanda Loves to Audit HAHAHA.... Really Amanda, do you? Do you really? Lol

[@amandalovestoaudit]

I do! 😁

[@newlife4148]

🥰🥰🥰🥰🥰 cute kid...

[@amandalovestoaudit]

Thanks :)