This third edition of the guide features enhancements to the two sample manuals, as well as other refinements for clarity and consistency with International Standard on Quality Control (ISQC) 1. The guide contains the requirements set out in ISQC 1 in addition to implementation guidance, including discussion material and an integrated case study that can be used as the basis for education and training.
IFAC Connect LATAM 2026 is presented by IFAC in collaboration with Federación Argentina de Consejos Profesionales de Ciencias Económicas and La Asociación Internamericana de Contabilidad (AIC). Attendance is by invitation only. More details TBA.
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.
The IAASB invites stakeholders worldwide to participate in its public consultation survey as part of its post-implementation review of International Standard on Auditing (ISA) 540 (Revised), Auditing Accounting Estimates and Related Disclosures.
