ISA (NZ) 540

Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures

This Standard deals with the auditor’s responsibilities relating to accounting estimates, including fair value accounting estimates, and related disclosures in an audit of financial statements.


Effective for audits of financial statements for periods as indicated. Also applies to subsequent annual reporting periods until that standard is superseded by a new/amended/revised standard. 

  • ISA (NZ) 540 – Periods beginning on or after
    1 Apr 2014

    Date of issue: Jul 2011

    Date compiled: 28 Feb 2014

  • Amending Standards (from the disclosures project) – Periods ending on or after
    15 Dec 2016

    Date of issue: Oct 2015

  • Conforming Amendments (from the auditor reporting project) – Periods ending on or after
    15 Dec 2016

    Date of issue: Oct 2015

  • ISA (NZ) 540 – Periods beginning on or after
    1 Jul 2014

    Date of issue: Jul 2011

    Date compiled to: 31 Dec 2013


    Additional material: Mark up of compiled ISA (NZ) 540
  • ISA (NZ) 540 – Periods ending on or after
    31 Dec 2014

    Date of issue: Jul 2011

    Date compiled to: 30 Sep 2013


    Additional material: Mark up of compiled ISA (NZ) 540
  • ISA (NZ) 540 – Periods beginning on or after
    1 Sep 2011

    Date of issue: Jul 2011

    Date compiled to: 1 Jul 2011


    Additional material: Comparison to ISA 540