Auditing Accounting Estimates – AASB

Date recorded:

At its meeting on June 11-12, 2018, the AASB provided input to the CPA Canada nominee on issues related to the IAASB’s project to revise ISA 540, including the proposed effective date and re-exposure considerations of the final revised ISA. The Board also discussed potential risks to implementation of the revised standard by Canadian practitioners, and how these risks will be addressed through guidance. The IAASB expects to approve ISA 540 (Revised) in June 2018 and issue it in October 2018. The AASB plans to approve the Canadian equivalent standard shortly thereafter.

Review the executive summary on the AASB's Web site.

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