ISA 540 (Revised) Implementation

What the Project Aims to Achieve

The objective of the project is to:

  • Promote awareness of the revised standard.
  • Inform and educate users.
  • Open a dialogue to learn about the experiences of those responsible for adopting and implementing the standard.
  • Prepare for post-implementation review efforts.

Project Timeline

Please note that forecasted milestones are targets and are subject to change.



Current Status of the Project

In quarter 3 of 2020, the IAASB completed its activities to support the first-time implementation of ISA 540 (Revised).

The IAASB expects the ISA 540 (Revised) PIR activities to commence in quarter 1 or 2 of 2023, subject to competing priorities amid the pandemic. The findings from the PIR activities may result in further  information gathering and research activities, or a project or other workstream activity for the IAASB depending on the findings from the review and the IAASB’s consideration of recommendations.

Working Group Information

IAASB Staff Contact

Working Group Members


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