Agreed-upon Procedures - Important Updates on the Revised ISRS 4400
CPD Hours: 2
Price: R450.00
Agreed-upon Procedures - Important Updates on the Revised ISRS 4400
Presenters : Lettie Janse van Vuuren CA(SA)
Overview
Recently there has been a noticeable global need for increased accountability of both financial and non-financial information. Accountants and auditors have a responsibility to enhance the degree of confidence of intended users of this information.
As far as dependable information goes, SME clients may not need an audit, but may find Agreed-upon procedures (AUP) engagements a very useful and valuable non-audit service. ISRS 4400 (Revised), Agreed-upon Procedures Engagements, has been revised to respond to the growing demand for these engagements, particularly because a broad range of stakeholders, such as regulators, funding bodies and creditors, use Agreed-upon Procedures reports to address increased accountability.
Competencies developed in this webinar
By attending this webinar you will develop the following competencies:
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Knowledge of when an organisation will require an AUP engagement instead of the other assurance and related services.
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Be aware of the contents of the revised ISRS 4400 and all the significant enhancements made to it.
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Know and apply statutory, professional and ethical issues related to the undertaking of an AUP engagement.
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Apply key matters which underlie the agreement of scope and terms of an AUP engagement.
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Identify the possibility of, and need to, rely on other parties when performing an AUP engagement.
Content
The webinar will cover the following topics:
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Introduction
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What is an Agreed-upon Procedures (AUP) engagement?
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When is it appropriate to use?
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Benefits of Agreed-upon Procedures.
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AUPs on financial and non-financial information (by regulation and by demand).
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Content of the full ISRS 4400 in a nutshell:
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Objectives.
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Requirements (Planning, Procedures and Reporting).
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Application.
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Other explanatory material and appendices.
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Significant changes to the Revised ISRS 4400:
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Scope and responsibilities.
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Compliance with independence requirements.
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Professional judgment.
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Engagement acceptance and continuance.
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Using the work of a practitioner’s expert.
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The Agreed-upon Procedures Report.
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Bonus material published by IFAC:
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Choosing the right service – comparing Audit, Review, Compilation and Agreed-upon Procedures.
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Growing your practice with Agreed-upon Procedures engagements.
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Case study examples.
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