CTHRepealedLegislation
ASA 540 - Audit of Accounting Estimates - April 2006
Review of Subsequent EventsReview of Subsequent Events
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Review of Subsequent Events
27 Transactions and events which occur after period end, but prior to completion of the audit, may provide audit evidence regarding an accounting estimate made by management. The auditor’s review of such transactions and events may reduce, or even remove, the need for the auditor to review and perform audit procedures on the process used by management to develop the accounting estimate or to use an independent estimate in assessing the reasonableness of the accounting estimate.