IFAC has made an implementation tool available on their website to assist auditors when auditing accounting estimates. This implementation tool contains ‘what’, ‘why’ and ‘how’ suggestions, which are not all encompassing and more or different considerations may apply.

The implementation tool also works in conjunction with the IAASB’s previously published ISA 540 (Revised) flowcharts showing the requirements flow. This implementation tool does not replace the need to read ISA 540 (Revised), including its application and other explanatory material.