Skip to Content | Contact Us | About AUASB | Links

Media releases

21 Dec. 2016

AUASB invites comments on IAASB Discussion Paper on Agreed-Upon Procedures, Engagements and Other Services

The International Auditing and Assurance Standards Board (IAASB)’s Agreed-Upon Procedures (AUP) Working Group has released its Discussion Paper, Exploring the Demand for Agreed-Upon Procedures Engagement and Other Services, and the Implications for the IAASB’s International Standards.

This sets out the key features of an AUP engagement and explores how these engagements are undertaken, including the extent to which practitioners find existing requirements and guidance helpful or challenging.

In addition, the IAASB is seeking an understanding of how reports on factual findings are used to determine the needs of users of these reports.
 
The paper also explores the demand for engagements that combine reasonable assurance, limited assurance, and non-assurance engagements, and whether the IAASB’s existing International Standards are appropriate.

The Working Group seeks input from investors, preparers, those in governance roles, standard setters, practitioners, internal auditors, regulators, academics, and other stakeholders. Your input will assist the IAASB in determining what is needed to meet stakeholder’s needs, including standard setting and other possible actions.

The AUASB encourages you to respond to this Discussion Paper.  This will assist the IAASB and the AUASB to effectively respond to these developments in the public interest, including whether new or revised international standards or guidance may be necessary.

How to comment

You can either respond directly to the IAASB, and/or you can share your views with the AUASB.

Please submit comments as follows:

  • directly to the IAASB by 29 March 2017, and/or
  • to the AUASB by 6 March 2017.Comment letters are to be lodged with the AUASB via the “Submit comments to AUASB” button.  A PDF and Word document must be lodged, only PDF documents will subsequently appear on this website, unless comments are marked as confidential. AUASB requires a Word document for internal use only.

The AUASB is interested in your comments when developing the Australian response to the Discussion Paper.  Where you make comments directly to the IAASB, we would appreciate a copy could being sent to the AUASB.