ISA 540 (Revised) Implementation – Expected Credit Losses Illustrative Examples
Description
The International Auditing and Assurance Standards Board (IAASB), through its working group, has published ISA 540 (Revised) Implementation – Expected Credit Losses (ECL) Illustrative examples following the approval of International Standard on Auditing (ISA) 54 (Revised), Auditing Accounting Estimates and Related Disclosures. The ECL illustrative examples are designed to illustrate how an auditor could address certain requirements of ISA 540 (Revised) and to assist the auditor in understanding how the standard may be applied effectively.
Date
November 2020