Fair Value Measurements of Financial Instruments: Audit Considerations
Fair Value Measurements of Financial Instruments: Audit Considerations provides a practical overview of auditing financial instruments measured at fair value. This course focuses on risk-based auditing, internal controls, and valuation considerations to help professionals effectively assess financial reporting accuracy. You’ll gain insight into applying auditing procedures and evaluating fair value measurements in real-world engagements.
CPE Credit
4.0 Hours
DELIVERY METHOD
Self-Study (On Demand)
LEVEL
Basic
PREREQUISITES
None
PRICING
$119.50 per year
Course Description
Fair Value Measurements of Financial Instruments: Audit Considerations is designed to help accounting and auditing professionals develop a strong foundation in auditing financial instruments under fair value standards. The course emphasizes how financial instruments are evaluated across multiple dimensions and how those differences impact financial reporting.
Participants will learn how to design and perform tests of controls and substantive procedures, assess risk, and evaluate valuation techniques. The course also explores internal controls, professional skepticism, and reporting considerations to support high-quality audit conclusions.
What You’ll Learn
By the end of this course, you will be able to:
- Understand the fundamentals of fair value measurement under FASB ASC 820 and related standards
- Identify risks of material misstatement and relevant audit assertions for financial instruments
- Apply risk-based auditing techniques to financial instrument valuations
- Analyze internal controls and develop appropriate tests of controls and substantive procedures
- Evaluate valuation methodologies and the role of specialists in auditing financial instruments
- Recognize differences between GAAP and IFRS related to fair value measurements
Who This Course Is For
This course is designed for:
- CPAs and public accounting professionals
- Auditors and assurance professionals
- Accountants involved in financial reporting
- Internal auditors and risk professionals
- Financial analysts and valuation specialists
- Professionals responsible for auditing or reviewing financial instruments
Key Topics Covered
- Definition and classification of financial instruments
- Fair value measurement framework (FASB ASC 820) and disclosure requirements
- Planning considerations when auditing financial instruments
- Risk-based auditing and identification of significant risks
- Internal controls related to financial instruments
- Testing of controls and substantive audit procedures
- Valuation techniques and use of valuation specialists
- Initial recognition, subsequent measurement, and impairment considerations
- Differences between GAAP and IFRS for fair value measurements
- Concluding audit procedures and reporting considerations
Why This Course Matters
Understanding fair value measurements for financial instruments is essential when evaluating valuation techniques and related audit considerations. These measurements play a key role in financial reporting and require careful assessment of inputs, assumptions, and methodologies.
A clear understanding of fair value concepts supports consistent evaluation of financial instruments and helps ensure that valuation approaches are applied appropriately. For additional guidance on fair value measurement standards, professionals may refer to resources published by the FASB ASC 820 Fair Value Measurement guidance.
Explore additional Auditing CPE Courses to further strengthen your understanding of valuation and financial reporting.
Pricing & Access
$119.50 per year — Unlimited CPE Access
When you enroll, you receive full access to all courses in our catalog for one full year, including this course and every other available offering.
Unlike many CPE providers, we do not charge by the credit hour and we do not impose course expiration dates. Once you’re enrolled:
- All courses are included — no per-course or per-credit fees
- Your access lasts for a full year from your enrollment date
- Your completed course certificates remain available in your portal
- You can complete courses at your own pace, on your own schedule
This single annual enrollment gives you the flexibility to earn CPE hours when you need them — without worrying about expiring credits or additional costs.
Frequently Asked Questions
Is this course NASBA-compliant?
Yes. This course meets NASBA CPE requirements.
How is the course delivered?
On-demand, self-study format with quizzes for knowledge checks.
Can I complete this course at my own pace?
Yes. You may start, stop, and resume the course as needed.
