What does a measuring cup, scale, ruler and thermometer have in common? They are helpful measuring tools we use on a frequent basis. But can you guess when we can’t use these? When auditing accounting estimates! Although estimates are everywhere in the financial statements, there is not one, common tool to use when auditing these amounts. By nature, accounting estimates vary widely, are subject to estimation uncertainty and are filled with judgments – no two estimates are alike! This CPE-eligible (1.0 CPE) eLearning course dives into both PCAOB and U.S. GAAS requirements for auditing accounting estimates, including the approaches used and considerations for fair value measurements. It covers the guidance in both AU-C 540 and AS 2501.