CSRS 4400, Agreed-upon Procedures Engagements

Ef­fec­tive date:

Ef­fec­tive for agreed-upon procedures engagements for which the terms of engagement are agreed on or after January 1, 2022, except for subsequent amendments.

Overview

Canadian Standard on Related Services (CSRS) 4400, Agreed-upon Procedures Engagements, sets out requirements relating to: (i) engagement acceptance and continuance; (ii) agreeing the terms of the engagement; (iii) performing the agreed-upon procedures; (iv) using the work of a practitioner's expert; (v) the agreed-upon procedures report; (vi) undertaking an agreed-upon procedures engagement together with another engagement; and (vii) documentation.

CSRS 4400 deals with the practitioner's responsibilities when engaged to perform an agreed-upon procedures engagement and the form and content of the agreed-upon procedures report. It applies to the performance of agreed-upon procedures engagements on financial or non-financial subject matters.

His­tory of CSRS 4400

Date

De­vel­op­ment

Com­ments

August 2020

Is­sued to the CPA Canada Hand­book – As­sur­ance re­plac­ing: (i) Section 9100, Reports on the Results of Applying Specified Auditing Procedures to Financial Information other than Financial Statements; and (ii)  Section 9110, Agreed-Upon Procedures Regarding Internal Control Over Financial Reporting. See Completed Project.

CSRS 4400 is effective for agreed-upon procedures engagements for which the terms of engagement are agreed on or after January 1, 2022.

May 2022

Relates to conforming amendments to Other Canadian Standards resulting from the approval of CSQM 1. Paragraphs 21, 23 and 26 have been amended. In adopting ISRS 4400 (Revised) as CSRS 4400, Canadian amendments were made to remove paragraphs related to quality control that did not apply, as Canadian Standard on Quality Control (CSQC) 1, Quality Control for Firms that Perform Audits and Reviews of Financial Statements, and Other Assurance Engagements, did not apply to CSRS 4400. As a result of issuing CSQM 1, the Canadian amendments that were made to paragraphs 19 and 30 were removed. See Com­pleted Pro­ject.

The changes are effective for engagements beginning on or after December 15, 2023.
November 2023

 

CSRS 4400 has been revised to correct the following errors made when the standard was previously approved.

  • Add back the word “ordinarily” to paragraphs C13C(k) and CA14so as not to restrict the application of CSRS 4400 to practitioners who are required to comply with the rules of professional conduct / code of ethics applicable to the practice of public accounting issued by various professional accounting bodies.
  • Replace the reference to the IESBA Code in paragraph 30(k) with relevant ethical requirements set out in rules of professional conduct / code of ethics applicable to the practice of public accounting.

The revised requirements are effective as of November 1, 2023.

Note: The above sum­mary does not in­clude de­tails of con­se­quen­tial amend­ments made as the re­sult of other pro­jects.

Amendments under consideration

  • None

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.