What is isrs 4400?
International Standard on Related Services (ISRS) 4400, “Engagements to Perform Agreed-upon Procedures Regarding Financial Information” should be read in the context of the “Preface to the International Standards on Quality Control, Auditing, Review, Other Assurance and Related Services,” which sets out the application …
What are agreed upon procedures?
An agreed-upon procedure is a standard a company or client outlines when it hires an external party to perform an audit on a specific test or business process. The procedures, which are called audit standards, are designed and agreed upon by the entity conducting the audit, as well as any appropriate third parties.
Are agreed upon procedures an assurance engagement?
An agreed-upon procedures engagement is not an assurance engagement,1 even though similar procedures are performed, because the purpose of the procedures performed is not to obtain sufficient appropriate evidence on which to base a conclusion.
What are the two topics that attestation standards provide guidance on?
They provide guidance on reviewing evidence and compiling evidence. They provide guidance about gathering evidence regarding specific assertions and communicate an opinion on the fairness of the presentation to a third party. Which of the following is not an AICPA standard of reporting for attestation engagements? a.
What is the difference between negative assurance and positive assurance?
Key Takeaways. Negative assurance is a confirmation from an auditor that certain facts are accurate because there is no evidence to the contrary. When positive assurance (the proof of facts) is not applicable, negative assurance is used.
What are the two types of services provided in connection with the statements on Standards for Accounting and Review services?
C) Statements of Standards on Attestation Engagements (SSAEs). D) Statements on Standards for Accounting and Review Services (SSARS). 2) The two types of services provided in connection with the Statements on Standards for Accounting and Review Services are: A) audit and examination services.