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Not-for-Profit Industry Conference 2019

NOT1934 - Fair Value: Auditing & Use of Specialists

‐ Jun 11, 2019 1:40pm

Standard: $ 49.00

This session will provide attendees with an overview of the various types of valuation methodologies employed by specialists to price non-exchange traded assets. The session will also include a discussion on the disclosure requirements included in ASU 2018-13, Disclosure Framework's Changes to the Disclosure Requirements for Fair Value Measurement, relative to such instruments and the types of auditing procedures necessary to assess the reasonableness of the pricing inputs and methodologies employed. Through the sharing and discussion of examples, the session is designed to assist financial statement prepares and auditors understand their responsibilities relative to the valuation and reporting of such assets in entities' financial statements.

  • Identify circumstances where it may be appropriate to involve valuation specialists when pricing certain types of assets
  • Identify the modified disclosure requirements relative to fair value measurements under ASU 2018-13
  • Identify auditors' responsibilities relative to assessing the reasonableness of pricing inputs and valuation methodologies employed




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