Accounting estimates
This topic applies to OnPoint Audit.
The Accounting estimates - Risk assessment procedures and risk response form is compliant with the professional auditing standards, Statements on Auditing Standard, SAS No. 143 and 144, effective December 15, 2023.
The accounting estimates form is available for each applicable Financial Statement Area in the Fieldwork phase. If necessary, you can create additional instances of the form by selecting the Add icon (
) on the Documents page.
The Overview tab contains a summary of the information documented in the Risk assessment procedures tab and Risk response procedures tab.
Note: The Risk response procedures tab displays if you select Risks identified to the Risks have been identified and documented as a result of this accounting estimate and related disclosures procedure in the Risk assessment procedures tab.
In the Overview tab, you can populate the Accounting estimate history graph by completing the Accounts table. Ensure you enter the Original Estimate and Actual amounts in order to automatically calculate the Variance column.
