Template-Type: ReDIF-Article 1.0
Author-Name: María Jesús Alonso Pérez
Author-Workplace-Name: Subdirectora General de Normas Técnicas de Auditoría. Instituto de Contabilidad y Auditoría de Cuentas. España.
Title: La NIA-ES 540 Revisada “Auditoría de las estimaciones contables y otra información a revelar” y su oportunidad ante la actual situación mundial
Abstract: The supervisory body of the auditing activity in Spain, Instituto de Contabilidad y Auditoría de Cuen-tas (ICAC), through the Resolution dated October 27, 2020, has published the Technical Auditing Standard  resulting  from  the  adaptation  of  the  International  Standards  on  Auditing,  “Auditing  Ac-counting Estimates and Related Disclosures”, NIA 540-ES (Revised) for their application in Spain. The  International  Standards  on  Auditing  (ISA)  were  incorporated,  upon  their  adaptation,  to  the  national regulations through the ICAC Resolution dated October 15, 2013, identified as NIA-ES in Spanish, becoming effective for the fiscal year audits starting on January 1, 2014. These standards have been applied since then to any audit of accounts, notwithstanding the characteristics of the audited entities and whether they are public interest entities or small to medium-sized enterprises.On the one hand, the revision of ISA 540 was prompted by the inadequacies revealed in its imple-mentation concerning the behaviour of the accounting estimates during the previous global finan-cial crisis that began in 2008. On the other hand, it was motivated by the growing significance of accounting estimates and prospective information in financial information frameworks.A conclusion is presented after the detailed comparative analysis of the modifications introduced by the standard.
Classification-JEL: M42
Keywords: audit, accounting estimates, ISA 540 Revised.
Journal: AUDIT.AR
Pages: 27-34
Volume: 1
Issue: 1
Number: 5
Year: 2021
Month: May-October
DOI: https://doi.org/10.24215/27188647e004
File-URL: https://revistas.unlp.edu.ar/auditar/article/view/12101
File-Format: Application/pdf
Handle: RePEc:lap:raudit:5