This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice ( for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

Auditing Accounting Estimates - IAASB

Date recorded:

At its teleconference call on January 31, 2017, the IAASB was asked to provide its views on a draft revised “stand back” provision which the Task Force proposes to include in ISA 540. The Task Force’s outreach has indicated that stakeholders are supportive of including a stand back requirement in ISA 540, recognizing that the iterative nature of the audit means that audit quality would be enhanced by requiring the auditor to take stock of the audit evidence obtained in relation to accounting estimates, particularly complex and challenging accounting estimates.

Review the summary on the IAASB's Web site.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.