Revised CAS 540: Guidance resources

All auditors will be affected by the changes in revised CAS 540, Auditing Accounting Estimates and Related Disclosures. Our free guidance materials will help you implement these changes and advise your clients on their impact.

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The revised CAS 540, Auditing Accounting Estimates and Related Disclosures is effective for audits of financial statements for periods beginning on or after December 15, 2019. It contains significant changes from extant CAS 540, Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures.

We’ve developed the following free publications to help you understand these changes and communicate them effectively to your clients:

Business person using a magnifying glass to look at large book of business documents. Audit and Assurance Alert: CAS 540, Auditing accounting estimates and related disclosures
Learn about changes to the auditor's responsibilities related to revised CAS 540, Auditing Accounting Estimates and Related Disclosures.


Businessman stands at flipchart explaining a graph to seated colleagues.Audit Client Briefing: Revised CAS 540, Auditing estimates
This publication can be shared with your audit clients to help explain the requirements of revised CAS 540. It will also make management aware of matters to consider in preparing for and responding to the significant revisions in, and the auditor's requests pertaining to CAS 540.

Young workers in creative office space.Implementation Tool: CAS 540 revised
Get an understanding of the requirements of CAS 540 including the “what”, “why” and “how” of specific steps as illustrated in the International Auditing and Assurance Standards Board (IAASB) ISA 540 (Revised) Flowcharts.


Question Mark In A Jar - stock photoCAS 540, Auditing Accounting Estimates and Related Disclosures: Frequently asked questions (FAQs)
During exposure of proposed CAS 540, outreach activities identified potential implementation risks or areas that may need further clarification. These FAQs set out questions and answers related to these matters.