An implementation tool for auditing accounting estimates under CAS 540

Auditing accounting estimates require many steps and careful risk assessment. This tool shows you the main steps required for implementing CAS 540 and includes a handy reference table.

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Canadian Auditing Standard (CAS) 540 Auditing Accounting Estimates, Including Fair Value Accounting Estimates and Related Disclosures focuses attention on areas of higher risk in accounting estimates, expanding on how CAS 315, CAS 330 and other relevant CASs are to be applied to accounting estimates.

Implementation Tool for Auditors: Auditing Accounting Estimates Under CAS: What, Why and How? provides you with:

  • the main steps in auditing accounting estimates under CAS 540 when a risk of material misstatement exists
  • reasons for performing each step
  • practical considerations about how to implement each step
  • a helpful reference table that you detach and use as a reminder


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