Technical Alert 02/2020 - Revised ISA 540 Auditing Accounting Estimates and Related Disclosures

Nov 25, 2020

Chartered Accountants Ireland have published Technical Alert (TA) 02/2020 to provide a brief outline of the significant changes to this standard and to direct members to additional sources of information and guidance on the implementation of the revised ISA 540. 

This includes discussion on the need for preparers of financial statements to engage with their auditors to discuss the accounting estimates included in the financial statements.  This TA covers both UK and Ireland versions of the revised standard.