Technical news in brief August 2020
ICAEW's Audit and Assurance Faculty brings you the latest technical updates on developments in auditing and assurance, financial reporting and ethics. Please note Only Audit and Assurance Faculty members and Faculties Online subscribers have access to these technical updates.
The examples illustrate accounting estimates with varying characteristics and degrees of complexity. Each example illustrates a selection of requirements from ISA 540 (Revised) but not all requirements are addressed in each example. The requirements selected across each example vary to illustrate different aspects of ISA 540 (Revised) and to focus on those requirements that are most relevant to the example. The examples are intended to be read together, as requirements that are addressed in one example may also be relevant to another example.
These amendments are effective for annual reporting periods beginning on or after 1 January 2021, with early adoption permitted.