The International Auditing and Assurance Standards Board (IAASB) has launched a public consultation survey as part of its post-implementation review of International Standard on Auditing (ISA) 540 (Revised), Auditing Accounting Estimates and Related Disclosures.
ISA 540 (Revised) established more robust requirements and appropriately detailed guidance to foster audit quality by driving auditors to perform appropriate procedures in relation to accounting estimates and related disclosures. The standard was effective for audits of financial statements for periods beginning on or after December 15, 2019.
This survey seeks input from a broad range of stakeholders and includes questions tailored to differing perspectives and experiences of various stakeholder groups. Survey feedback will help the IAASB assess whether:
- ISA 540 (Revised) has achieved its intended objective, including improvements or benefits arising from its application, as well as any practical challenges or questions encountered; and
- Any further actions by the IAASB are needed to address matters identified.
The survey focuses on three principal areas:
- Overall views on ISA 540 (Revised), including related to non-authoritative guidance and tools that were issued to support implementation of the standard;
- Perceived benefits resulting from implementation of the revised standard; and
- Potential issues, challenges, or impacts experienced or observed relating to ISA 540 (Revised).
Stakeholders may respond to all questions or only those most relevant to their perspectives. All responses will form part of the public record. The survey is open until June 15, 2026, and can be accessed online here.
About the IAASB
The International Auditing and Assurance Standards Board develops auditing, assurance, related services, and quality management standards and guidance in the public interest that support consistent performance of quality engagements. Along with the International Ethics Standards Board for Accountants, the IAASB is part of the International Foundation for Ethics and Audit. The Public Interest Oversight Board oversees IAASB and IESBA activities and the public interest responsiveness of the standards. For copyright, trademark, and permissions information, please visit Permissions.