New York (Jan. 2, 2003) -- The American Institute of CPAs has issued a fair value toolkit to help auditors understand and apply SASs when auditing fair value measurements and disclosures relating to business combinations, goodwill, and certain impairment situations.The toolkit offers recommendations and contains illustrative audit programs and financial statement disclosure checklists to use when auditing financial statements that include fair value measurements and disclosures required under FASB Statements 141, Business Combinations, No. 142, Goodwill and Other Intangible Assets, and No. 144, Accounting for the Impairment or Disposal of Long-Lived Assets.
The toolkit is available for free at: http://www.aicpa.org/members/div/auditstd/fasb123002.asp
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