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ISA 540 (Revised) Implementation Support: Flow Charts and Diagram

| Guidance & Support Tools
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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.

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