ISA 540 (Revised) Implementation Support: Flow Charts and Diagram
The International Standard on Auditing (ISA) 540 (Revised) Implementation Working Group has developed two flowcharts and a diagram to support the understanding, and effective implementation, of the standard.
- Flowchart 1: ISA 540 (Revised) – Requirements, explains the flow of the requirements in ISA 540 (Revised);
- Flowchart 2: ISA 540 (Revised) – Three Testing Approaches, provides an overview of the requirements [paragraphs 18–29 of ISA 540 (Revised)] relating to the three testing approaches, including the linkages between the testing approaches; and
- Diagram 1: Linkages between ISA 540 (Revised) and Other ISAs, shows the interrelationship of the requirements in ISA 540 (Revised) and other ISAs. This information will help auditors understand the key linkages and in applying all relevant requirements in relation to the audit of accounting estimates and disclosures.
These materials do not constitute an authoritative pronouncement of the International Auditing and Assurance Standards Board, nor do they amend or override the ISAs. They are not meant to be exhaustive and reading them is not a substitute for reading the ISAs.
Copyright © 2021 The International Federation of Accountants (IFAC). All rights reserved.
You must be signed in to the IFAC website in order to submit a comment. If you do not have an account, please register below. IFAC respects your privacy and will not send you unsolicited email or spam. You can subscribe to IFAC publications, change your subscription preferences, or manage your user profile at any time.
Translations & Permissions
Looking to reproduce the standards for your members? Want to include IFAC's publications in your training materials or university course? Learn how we can help.