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 (http://www2.deloitte.com/ca/en/legal/cookies.html) 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.

Basis for Conclusions – Auditing Accounting Estimates and Related Disclosures

  • AASB Image

Mar 01, 2019

On March 1, 2019, the Auditing and Assurance Standards Board (AASB) published a document that summarizes the process the AASB followed in making revisions to CAS 540, Auditing Accounting Estimates and Related Disclosures.

CAS 540 contains no amendments to the ISA wording. This is consistent with the position taken by the AASB in ED-CAS 540.

The Basis for Conclusions includes:

  • Request for additional guidance
  • Significant concerns over operationalizing the requirements
  • Joint policy statement concerning communications with actuaries

Review the Basis for Conclusions on the AASB's website.

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.