Answer:-
Aim
:-
- In June 2018, the IAASB endorsed
International Standard on Auditing 540 (Revised), Auditing
Accounting Estimates and Related Disclosures as a last
standard.
- The changed ISA will be successful
for reviews of monetary announcing periods starting on or after
December 15, 2019. Early reception is allowed and empowered.
- To encourage early selection, the
IAASB has distributed the content of ISA 540 (Revised) pending
Public Interest Oversight Board's affirmation that fair treatment
was pursued.
- Subject to getting the PIOB's
affirmation, the last standard is foreseen in October 2018.
Note :-
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