Agreed-Upon Procedures – IAASB

Date recorded:

At its meeting on June 17-21, 2019, the IAASB received an overview of the responses to proposed ISRS 4400 (Revised). The Board discussed, among other matters, respondents’ comments on the application of professional judgment when performing procedures, the independence disclosure requirements, and the effective date. The Board also acknowledged areas of broad support, including not including a precondition for the practitioner to be independent, using the term “findings” and requiring an explanation of this term in the engagement letter and the AUP report, not requiring or prohibiting a reference to the practitioner’s expert in the AUP report, and not requiring a restriction on use or distribution of the AUP report. The AUP Task Force will deliberate the Board’s input and will present the first read of the post-exposure ISRS 4400 (Revised) to the Board in the second half of 2019.

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