Auditing accounting estimates is one of the most judgment-intensive areas of the audit — and often one of the most poorly documented. With increased scrutiny on how auditors assess estimation uncertainty and management bias, it's essential to understand and apply the requirements of ISA 540 (Revised) with clarity and confidence.
This practical, hands-on training is designed to help auditors bridge the gap between theory and execution. You'll gain a clear understanding of the key principles behind auditing estimates, learn how to apply the three testing approaches effectively, and discover how to avoid common pitfalls — all while enhancing your ability to document your work with the right level of professional scepticism.
What you’ll learn:
- The core requirements of ISA 540 (Revised) — made simple and practical
- How to implement the three key testing approaches during your audit
- Common documentation mistakes and how to fix them
Whether you're a junior auditor looking to strengthen your fundamentals or a seasoned professional needing a refresher, this course will sharpen your judgment and improve your audit quality.
Certification:
Upon completion, you’ll receive a verifiable LEAF Bronze Certificate to showcase your achievement.
Elevating the standards of all auditors and those seeking to become auditors by upholding the principles of legislation, regulation, and quality audit management and performance.
Quests Curriculum
- 5 Levelss
- Coaching By LEAF
- Communities Support
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Levels 01 Introduction
Mission(s) included in this level: 1. Welcome & Introduction
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Levels 02 ISA 540 (Revised) Overview
Mission(s) included in this level: 2. ISA 540 (Revised) Overview
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Levels 03 The 3 Testing Approaches
Mission(s) included in this level: 3. The 3 Testing Approaches
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Levels 04 Common Errors
Mission(s) included in this level: 4. Common Errors and Solutions
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Levels 05 Final Quiz
Pass the final quiz with at least 80 % to complete the quest.
Success Stories
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Thabo M., Audit Senior ISA 540 Finally Made Clear
"Finally, a course that explains ISA 540 in a way that actually makes sense! The examples were practical, and I now feel much more confident documenting my audit work on estimates."
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Lindiwe K., Junior Auditor Bridging the Gap Between Theory and Practice
"This training helped me understand not just what to do, but why it matters. The section on common errors was a game-changer for me."
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Ayesha R., Senior Associate Immediately Useful and Practical
"The course gave me practical tools I could use immediately. I especially appreciated the focus on professional scepticism and real-world scenarios."