CTHRepealedLegislation
ASA 540 - Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures - October 2009
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Scope of this Auditing Standard
- This Auditing Standard deals with the auditor’s responsibilities relating to accounting estimates, including fair value accounting estimates, and related disclosures in an audit of a financial report. Specifically, it expands on how ASA 315[1] and ASA 330[2] and other relevant Auditing Standards are to be applied in relation to accounting estimates. It also includes requirements and guidance on misstatements of individual accounting estimates, and indicators of possible management bias.