ACCA welcomes the opportunity to comment on the discussion paper issued by the International Auditing and Assurance Standards Board (IAASB) on Exploring the Demand for Agreed-Upon Procedures Engagements and Other Services and the Implications for the IAASB’s International Standards.
The IAASB's discussion paper aims to highlight the key features of AUP engagements performed in accordance with the IAASB’s ISRS 4400, the results of the research and outreach performed to date by the Working Group and to obtain views from stakeholders on the issues in this Discussion Paper to help inform the development of a standard-setting project proposal to revise ISRS 4400 and any other activities that may be necessary.
ACCA supports the IAASB's initiative to explore the demand of AUP engagements and other services, and the implications for the IAASB’s International Standards. We are of the opinion that the AUP Working Group managed to identify all the significant issues associated with AUP engagements which are discussed in this paper.
Our detailed comments in respect of the specific questions within the discussion paper are set out in the attached document.
Members of ACCA's Audit and Assurance Global Forum have considered the matters raised and their views are represented in ACCA’s comments.