Agreed-Upon Procedures - AASB

Date recorded:

At its meeting on September 13-14, 2018, the AASB provided input to the CPA Canada nominee on the IAASB’s project to revise International Standard on Related Services (ISRS) 4400 (Revised), Agreed-Upon Procedures Engagements, including:

  • the role of professional judgment in an agreed-upon procedures engagement;
  • objectivity and independence of a practitioner performing an agreed-upon procedures engagement;
  • the use of the work of a practitioner’s expert in an agreed-upon procedures engagement; and
  • matters related to the explanatory memo, exposure period and effective date of the standard.

The IAASB is expected to approve an exposure draft of ISRS 4400 (Revised) at its September 2018 meeting. The AASB would approve a Canadian exposure draft shortly thereafter.

Review the executive summary on the AASB's Web site.

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