The use of virtual commissioning has increased in the last decade, but there are still challenges before the software code validation method is widespread in use. One of the extensions to virtual commissioning is the digital twin technology to allow for further improved accuracy. The aim of this paper is to review existing standards and approaches to developing virtual commissioning, through a literature review and interviews with experts in the industry. First, the definitions and classifications related to virtual commissioning and digital twins are reviewed, followed by, the approaches for the development of virtual commissioning and digital twins reported in the literature are explored. Then, in three interviews with experts of varying backgrounds and competencies, the views of the virtual technologies are assessed to provide new insight for the industry. The findings of the literature review and interviews are, among others, the apparent need for standardisation in the field and that a sought-after standard in the form of ISO 23247-1 is underway. The key finding of this paper is that digital twin is a concept with a promising future in combination with other technologies of Industry 4.0. We also outline the challenges and possibilities of virtual commissioning and the digital twin and could be used as a starting point for further research in standardisations and improvements sprung from the new standard.