At its meeting on September 12-13, 2023, the AASB unanimously approved limited revisions to Canadian Standard on Related Services (CSRS) 4400, Agreed-upon Procedures Engagements, to correct the following: (i) in paragraphs C13(k) and CA14, adding back the word “ordinarily” to its previously approved Canadian amendments. This will correct the AASB’s inadvertent narrowing of the relevant ethical requirements that can be applied by practitioners using the standard; and (ii) in paragraph 30(k), remove the reference to the “IESBA code” and replace it with the relevant ethical requirements in Canada. This Canadian amendment was missed when the standard was approved. The AASB decided unanimously that the changes do not have to be exposed for the following reasons: (i) the changes relate to a correction of an error and reflect prevailing accepted practice for treatment of references to the IESBA Code in the AASB’s standards. The AASB’s due process allows for such changes to be made without exposure; and (ii) the current inaccuracy in the standard may create confusion/incorrect reporting in practice. It is in the public interest to make a timely revision to the standard. Once the Auditing and Assurance Standards Oversight Council confirms that the AASB followed due process with proper regard for the public interest, the correction will be made in the CPA Canada Handbook – Assurance in November 2023.

Review the Executive Summary on the AASB's Web site.