Auditing Accounting Estimates - AASOC
Date recorded:
At its meeting on February 16, 2017, the AASOC and AASB discussed issues related to the IAASB’s project to revise ISA 540, Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures. They also discussed the approach for obtaining feedback from Canadian stakeholders; the risks associated with the effective implementation of the standard; and how these risks may be addressed, including potential implementation challenges that may be faced depending on the timing of the release of the final CAS and its effective date.
Review the minutes on the AASOC's Web site.