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Challenges Incurred In The Auditing Of Fair Value Measurements

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  • Silviu-Virgil Chiriac

    (University -)

Abstract

The purpose of the auditors' work is to establish confidence between the producers and users of accounting information. Thus, auditors help protect the interests of different categories of beneficiaries of accounting information when they make economic decisions. The prevalence of fair values in the financial statements as their inherent measurement uncertainty has increased dramatically in recent years and is recognized as representing a significant problem for regulators. In these circumstances we ask which are the difficulties encountered by auditors in auditing fair values, what kinds of deficiencies they find within auditing and whether the complexity of measurements of fair value jeopardizes the ability of auditors to give a highly secure opinion.

Suggested Citation

  • Silviu-Virgil Chiriac, 2016. "Challenges Incurred In The Auditing Of Fair Value Measurements," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(1), pages 812-822, July.
    • Handle: RePEc:ora:journl:v:1:y:2016:i:1:p:812-822
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    File URL: http://anale.steconomiceuoradea.ro/volume/2016/n1/79.pdf
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    References listed on IDEAS

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    1. repec:dau:papers:123456789/1858 is not listed on IDEAS
    2. Leslie Hodder & William J. Mayew & Mary Lea McAnally & Connie D. Weaver, 2006. "Employee Stock Option Fair†Value Estimates: Do Managerial Discretion and Incentives Explain Accuracy?," Contemporary Accounting Research, John Wiley & Sons, vol. 23(4), pages 933-975, December.
    3. Jean-François Casta & Bernard Colasse, 2001. "Juste valeur," Post-Print halshs-00669417, HAL.
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    More about this item

    Keywords

    audit; evaluation; fair value;
    All these keywords.

    JEL classification:

    • M40 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - General
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing

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