CAPIC REVIEW

Journal of Accounting, Auditing and Business Management

ISSN 0718-4662

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Vol. 19 (2021): CAPIC REVIEW
Investigation

Factors of financial auditor’s perceptions about fair value auditing

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  • Julio Hernández Pajares,
  • Kiara Chau Miyakawa
Julio Hernández Pajares
Universidad de Piura
Kiara Chau Miyakawa
Universidad de Piura
Bio
DOI: https://doi.org/10.35928/cr.vol19.2021.88
Categories

Published 2021-05-09

Keywords

  • Financial audit,
  • IFRS,
  • International Standards on Auditing,
  • fair value

How to Cite

Hernández Pajares, J., & Chau Miyakawa, K. . (2021). Factors of financial auditor’s perceptions about fair value auditing. CAPIC REVIEW, 19, 1–16. https://doi.org/10.35928/cr.vol19.2021.88
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Abstract

The incorporation of the Fair Value (FV) measurement model into IFRS has led to significant efforts and challenges for financial auditors in the process of auditing the FV estimates in the preparation of financial statements. The objective of the investigation is to understand the financial auditor ́s perception of the FV audit process by considering the most relevant aspects of IFRS 13 and ISA 540. Other objectives are to perceive the views on the challenges posed by these rules and the contribution to the faithful image of financial report, understanding of the strategies that improve the FV audit process and analysing the relationship of these perceptions with the factors of academic level, experience, gender and specialized sector of auditors. In order to achieve these objectives, an exploratory and quantitative study was carried out with a descriptive and relational scope of the perceptions obtained from the Peruvian financial auditors and their relationship with the factors indicated. The results indicate that the highest evaluations correspond to perceptions of recognition of professional challenges, need for knowledge and technical guidance, use of specialists for the application of the regulations on FV. On the other hand, the factors of academic level, audit experience and gender of auditors have an impact on perceptions related to the need for training and technical guidance in FV regulations and the challenges and knowledge required for their audit.

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