Preparing for changes to ISA 540 and ISA (UK) 540

Jannie Delucca


























Preparing for changes to ISA 540 and ISA (UK) 540 | ICAEW




























































ICAEW.com works better with JavaScript enabled.





















Auditors can access various types of practical support material to assist with ISA 540 implementation. Here’s a guide to some useful resources.

The international standard on auditing accounting estimates and related disclosures has been revised by the International Auditing and Assurance Standards Board (IAASB) and the UK standard setter the Financial Reporting Council (FRC). Both ISA 540 and ISA (UK) 540 are effective for audits of financial reporting periods beginning on or after 15 December 2019, so during 2021 (for December 2020 year ends onwards), there have been some significant changes and challenges for audit firms to grapple with.

Fortunately, there are plenty of helpful resources available. First-time implementation support from the IAASB, for example, includes:















Next Post

AHIP weighs in on benefit, payment parameters for individual market

Photo: The Excellent Brigade/Getty Photographs In what AHIP calls a press to make sure economical and quality alternatives in the federal wellbeing insurance plan marketplaces, the organization for insurers has submitted feedback in reaction to the Section of Wellbeing and Human Services’ See of Gain and Payment Parameters for 2023, […]