Submission on Exposure Draft on Proposed International Standard on Auditing 540 (Revised): Auditing Accounting Estimates and Related Disclosures

Monday, 10 July 2017

On 11 July 2017, the AICD lodged a submission to the International Auditing and Assurance Standards Board on Exposure Draft on Proposed International Standard on Auditing 540 (Revised): Auditing Accounting Estimates and Related Disclosures.


The AICD did not support the proposals due to a concern that the proposals will significantly increase the level of audit work undertaken and therefore increase audit costs, for no obvious benefit to stakeholders.

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