IAASB: Post-Implementation Review Survey of ISA 540 (Revised) on Accounting Estimates

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IAASB: Post-Implementation Review Survey of ISA 540 (Revised) on Accounting Estimates

• 11 March 2026
• Auditing and Assurance
• South African Accounting Academy

Summary:
The International Auditing and Assurance Standards Board (IAASB) has launched a public consultation survey as part of its post-implementation review of International Standard on Auditing (ISA) 540 (Revised): Auditing Accounting Estimates and Related Disclosures.

Article:

The objective of this survey is to review how ISA 540 (Revised) the standard for auditing accounting estimates has performed since becoming effective in late 2019.

ISA 540 (Revised) established more robust requirements and appropriately detailed guidance to foster audit quality by driving auditors to perform appropriate procedures in relation to accounting estimates and related disclosures. The standard was effective for audits of financial statements for periods beginning on or after December 15, 2019.

The survey gathers stakeholder feedback on whether the standard achieved its objectives, the benefits observed, and any challenges experienced. 

The survey focuses on three principal areas:

• Overall views on ISA 540 (Revised), including related to non-authoritative guidance and tools that were issued to support implementation of the standard;
• Perceived benefits resulting from implementation of the revised standard; and
• Potential issues, challenges, or impacts experienced or observed relating to ISA 540 (Revised).

Responses will help determine if further actions are needed. The survey is open until 15 June 2026.

There are 3 sets of survey questions to the following stakeholders:

• Stakeholders
• Preparers
• Users

The questions for respondents are organized in the following sections. 

• Section I ― Background and Purpose
• Section II ― About the Respondent
• Section III ― Overall Questions 
• Section IV ― Perceived Benefits from ISA 540 (Revised) 
• Section V ― Potential Issues or Challenges Related to ISA 540 (Revised) or Impacts of ISA 540 (Revised) (depending on stakeholder group selection in Section II)

Click here to access the survey online:

https://survey.alchemer.com/s3/8698182/ISA-540-Revised-Post-Implementation-Survey 

Relevance to Auditors, Independent Reviewers & Accountants:

• All Registered Auditors, Independent Reviewers and other Independent Assurance Practitioners must comply with the IRBA Pronouncements that affect their reporting on relevant engagements – including sustainability assurance engagements.
• Practitioners should be aware of pronouncements that follow reviews/amendments to Standards and pronouncements, as well as the outcome of post-implementation reviews.

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