Review of Fair Value Calculations During Financial Statement Audits

Navigating SAS 57, SAS 73, SAS 101 and Other Standards in Testing Measurements and Disclosures

Recording of a 110-minute CPE webinar with Q&A

Conducted on Wednesday, May 16, 2012

Recorded event now available

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Program Materials

This teleconference will provide accounting advisors with a review of the standards governing examinations of fair valuations during financial statement audits. The panel will explore different approaches involving the practical application of those standards.


In an era of intense scrutiny of valuations of corporate assets and liabilities, financial statement auditors are under pressure to be particularly thorough in reviews of fair value calculations by clients. Even if they turn to in-house or outside valuation experts, auditors must know applicable standards.

Of particular relevance are the Auditing Standards Board's SAS 57 on audit evidence, SAS 73 on the use of specialists, and SAS 101 on auditing fair value measurements in financial statements. The review of fair valuations may be governed by several other standards as well.

Given variations in sophistication of client assets and liabilities, fair value methodologies may also vary widely in complexity. The auditor needs to individualize an approach to testing measurements and disclosures and for evaluating the reasonableness of management assumptions and appropriateness of a model.

Listen as our panel of valuation professionals reviews the standards and rules governing examinations of fair valuations during financial statement audits and offers practical experiences to fortify your own audit preparation.



  1. Applicable accounting standards
    1. SAS 57
    2. SAS 73
    3. SAS 101
    4. ASC 805
    5. ASC 350
    6. Other standards
  2. Testing measurements and disclosures
    1. Whether management assumptions were reasonable
    2. If appropriate model was used
    3. Whether information utilized was reasonably available and relevant
  3. Case studies of fair value examinations during audits


The panel will explore these and other relevant topics:

  • Material terms of applicable accounting standards.
  • The practical bottom line of those standards during reviews of fair value methodologies.
  • Experiences and case studies involving financial statement audits that can benefit audit preparation.

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.


Arlene Ravalo-Jao
Arlene Ravalo-Jao

Senior Manager, Business Valuation
Daszkal Bolton

She works on business valuation and litigation support engagements, and has more than 10 years of experience in...  |  Read More

Michael Blake
Michael Blake

Director of Valuation Services
Habif Arogeti & Wynne

He has 15 years of total valuation experience on engagements including fair value accounting, and five years working on...  |  Read More

Dirk Van Dyke
Dirk Van Dyke

Managing Director, Valuation Services Practice
Armanino McKenna

He has more than 15 years of experience valuing technology companies, with more than 1,000 individual valuations in his...  |  Read More

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