Agreed upon procedures are based on a standard outlined by the client when it hires a professional accountant to perform an audit on a specific business process or compliance procedure. The client decides what needs to be tested against which criteria, and the professional accountant provides a detailed report of factual findings. Some of these includes compliance testing, internal control testing, Due diligence and payroll audits. The international standard for agreed upon procedures recently changed with effective date of 1 January 2022. Join us in this session as we discuss the requirements for agreed upon procedures under ISRS 4400, the effect of the changes, and discuss some examples of how these engagements are to be performed.

• What is agreed upon procedures and when will it be used o Examples of agreed upon procedure engagements • Implications of ISQM1 • Ethical requirements • Acceptance of the client and agreeing the terms • Execution of the agreed upon procedures • Reporting • Documentation

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