Financial reporting often requires organisations to make significant judgements, particularly when determining the fair value of assets and liabilities. While valuation models and methodologies provide a framework, the credibility of a valuation ultimately depends on the assumptions, evidence, governance, and professional judgement that support it.
In this podcast episode, Omar Mughal, Audit Partner at RAA Auditing, discusses with Bilal Khan, Financial Controller at Ajman Bank, to discuss the practical realities of fair value measurement. Together, they explore how organisations approach valuations in practice, the role of auditor challenge, and the governance considerations that underpin reliable and transparent financial reporting.
One key theme emerged throughout the conversation:
Fair value is not simply about arriving at a number. It is about the governance, evidence, judgement, and transparency that support that number.
A practical discussion for finance professionals, auditors, boards, audit committees, and governance stakeholders navigating increasingly complex reporting requirements.