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Proposed International Standard on Auditing 540 (Revised), Auditing Accounting Estimates and Related Disclosures

Exposure Draft
IAASB
| Exposure Drafts and Consultation Papers
English
Comments due by:

This proposed standard:

  • enhances requirements for risk assessment procedures to include specific factors related to accounting estimates, namely complexity, judgment, and estimation uncertainty;
  • sets a more detailed expectation for the auditor’s response to identified risks related to accounting estimates, including augmenting the auditor’s application of professional skepticism; and
  • is scalable regardless of the size or sector of the business or audit firm.
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Submitted Comment Letters

  1. Cygnus Atratus (2.39 MB)
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  20. ICAS (133.89 KB)
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  25. Wayne Morgan (68.25 KB)
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  33. KICPA (120.08 KB)
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  34. ISCA (838.75 KB)
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  39. Accountancy Europe (156.51 KB)
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  47. KPMG IFRG Limited (360.01 KB)
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  48. DTTL (452.52 KB)
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  50. CIPFA (129.07 KB)
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