The International Auditing and Assurance Standards Board (IAASB) has opened a public consultation survey on its post‑implementation review of ISA 540 (Revised) on auditing accounting estimates and related disclosures.

ISA 540 (Revised) was developed to introduce more robust requirements and more detailed application guidance.

It is intended to support audit quality by requiring auditors to apply appropriate procedures to accounting estimates and the associated disclosures in financial statements.

The standard has been in effect for audits of financial statements for periods beginning on or after 15 December 2019.

To support the review, the IAASB has issued an online survey aimed at a wide range of stakeholders.

The questionnaire includes sections tailored to different groups so respondents can provide input based on their specific role and experience.

Survey responses will help the IAASB determine whether ISA 540 (Revised) has fulfilled its intended purpose.

This includes identifying any benefits or improvements seen in practice, as well as any difficulties or questions that have arisen during implementation.

The consultation will also help in understanding whether further action by the IAASB is required to address issues raised by stakeholders.

The survey concentrates on three areas: overall views on ISA 540 (Revised) and its supporting guidance and tools; perceived benefits from its implementation; and any issues, challenges or impacts arising from its use.

The IAASB noted that respondents may answer all questions or focus only on those most relevant to them and that all submissions will form part of the public record.

The survey is open for responses until 15 June 2026.