Notice the structure you've developed: a series ammeter (for all intents and purposes), with a parallel voltmeter outside that.
This is placed inside a nulling bridge, so you can measure the voltage and current for various applied voltages.
You have only one alternative: the series-parallel transformation, i.e., voltmeter in parallel with the DUT, ammeter in series with that. (A series-parallel transformed bridge looks the same, but requires a current source instead of a battery. But the bridge's resistance is nearly constant, so we don't care.)
Which one is appropriate for your test depends on the parameters of the meters, and what V/I range you need to test.
The voltage error, due to the ammeter, results in this calculation:
V(actual) = V(meas) + R(ammeter) * I(meas)
I(meas) = I(actual), of course.
For the other arrangement, you get:
I(actual) = I(meas) - V(meas) / R(voltmeter)
V(meas) = V(actual), of course.
Now, R(voltmeter) is often poorly defined, and variable. My DMM has a "high Z" mode under 400mV, and is about 10M on the higher ranges; but it's some oddball value, and it's tricky to measure (set up a voltage divider?).
That said, as long as the shunt voltage drop is in the "High Z" range, you can rest assured that the ammeter's resistance will be precisely the value of the shunt resistor you used. If the voltage drop is insignificant, you can go ahead and ignore it anyway.
This makes this design quite handy for high impedance tests: if you're measuring nA and V, that's gigs of impedance, and your 1M shunt doesn't matter much.
In the other direction, if you had mV and uA, you'd have kohms of impedance, and the parallel-series form would be better.
Tim