audit, agreed-upon procedures, related services, practitioner, agreed-upon procedures report
Abstract
The article examines the grounds for changes and the main modifications in the International Standard on Related Services 4400 (Revised) «Agreed-Upon Procedures Engagements» (ISRS 4400), which occurred as a result of the revision by the International Auditing and Assurance Standards Board (IAASB) of the International Standard on Related Services 4400 «Engagements to perform agreed-upon procedures regarding financial information». The article emphasizes that the updated ISRS 4400 is adapted to contemporary trends in business environments, providing the opportunity to perform agreed-upon procedure engagements that better meet the needs of users. It also highlights that the revised standard allows practitioners to offer more flexible solutions, focused on both financial and non-financial information. This expands the scope of the standard, enabling enterprises to receive services tailored to their specific requirements. The clear definition of the scope of the standard provides undeniable opportunities to conduct agreed-upon procedures regarding non-financial information or nonfinancial reporting and to perform tasks in environmental and social areas, as well as in management reporting and management criteria.
