1 January 2010 - Clarity Standards Getting Closer
Remember! As an auditor conducting audits in accordance with with Australian Auditing Standards, you will need to conform to revised and redrafted Clarity standards from 1 January 2010. The AUASB is revising and redrafting its standards to conform with the standards issued by the IAASB... and the IAASB has announced that its Clarity project is nearing completion.
What is fair value in the current market environment?
Are you doing audits for entities where estimating fair values is a critical issue? Especially for financial instruments, and especially in these current turbulent times? If you are, then it would be very useful for you to read the latest IAASB Newswire release: New IAASB Audit Practice Alert Focuses on Fair Value Accounting Estimates.