Auditing the Fair Value

This paper introduces the private notions of accounting at fair value in terms of concepts, measurement and disclosure, and highlights the most important challenges facing the external auditor in auditing accounting estimates for the fair value according to the International Accounting Standards (IAS).

The tools of analyzing had been applied in order to identify priority challenges facing the external auditor through the analysis of the views of the external auditors for a number of offices and Iraqi audit firms mathematically by using the methodology of specific steps.

The paper aims through using statics to identify the most important challenges impact on the external auditor for the purpose of directing attention to them and not to direct the attention to the dispersion of other challenges may not have direct and influence strongly.