Sub-heading under section heading “Risk Assessment Procedures and Related Activities”
Amended
ASA 2020-1 [149]
A19
Amended
ASA 2020-1 [150]
A20
Amended
ASA 2020-1 [151]
Sub-heading under section heading “The Entity and Its Environment”
Amended
ASA 2020-1 [152]
A24
Amended
ASA 2020-1 [153]
Sub-heading after paragraph A27
Amended
ASA 2020-1 [154]
A28 and Footnote 36
Amended
ASA 2020-1 [155]
A32
Amended
ASA 2020-1 [156]
A34
Amended
ASA 2020-1 [157]
A35 and Footnote 39
Amended
ASA 2020-1 [158]
A39
Amended
ASA 2020-1 [159]
A44
Amended
ASA 2020-1 [160]
Sub-heading before paragraph A50
Amended
ASA 2020-1 [161]
A50
Amended
ASA 2020-1 [162]
A51
Amended
ASA 2020-1 [163]
A52
Amended
ASA 2020-1 [164]
A53 and Footnote 41
Amended
ASA 2020-1 [165]
A54
Amended
ASA 2020-1 [166]
A59
Amended
ASA 2020-1 [167]
A60
Amended
ASA 2020-1 [168]
A65
Amended
ASA 2020-1 [169]
A65Footnote 46
Addition
ASA 2020-1 [169]
A66
Amended
ASA 2020-1 [170]
A66Footnote 48
Addition
ASA 2020-1 [170]
A68
Amended
ASA 2020-1 [171]
A70 and Footnote 49
Amended
ASA 2020-1 [172]
A79
Amended
ASA 2020-1 [173]
Sub-heading before paragraph A85
Amended
ASA 2020-1 [174]
A85
Amended
ASA 2020-1 [175]
Renumbering of footnotes
Amended
ASA 2020-1 [176]
A104Footnote 56
Amended
ASA 2020-1 [177]
A137Footnote 65
Amended
ASA 2020-1 [178]
A149Footnote 72
Amended
ASA 2020-1 [179]
4
Amended
ASA 2021-5 [22]
A61Footnote 39
Amended
ASA 2021-1 [89]
AUTHORITY STATEMENT
Auditing Standard ASA 540 Auditing Accounting Estimates and Related Disclosures (as amended to 5 November 2021) is set out in paragraphs Aus 0.1 to A152 and Appendices 1 to 2.
This Auditing Standard is to be read in conjunction with ASA 101 Preamble to AUASB Standards, which sets out how AUASB Standards are to be understood, interpreted and applied. This Auditing Standard is to be read also in conjunction with ASA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Australian Auditing Standards.
Conformity with International Standards on Auditing
This Auditing Standard conforms with International Standard on Auditing ISA 540 Auditing Accounting Estimates and Related Disclosures issued by the International Auditing and Assurance Standards Board (IAASB), an independent standard‑setting board of the International Federation of Accountants (IFAC).
Paragraphs that have been added to this Auditing Standard (and do not appear in the text of the equivalent ISA) are identified with the prefix “Aus”.
This Auditing Standard incorporates terminology and definitions used in Australia.
The equivalent requirements and related application and other explanatory material included in ISA 540 in respect of “relevant ethical requirements”, have been included in Auditing Standard, ASA 102 Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements. There is no international equivalent to ASA 102.
Compliance with this Auditing Standard enables compliance with ISA 540.