The Body of Expert and Licensed Accountants of Romania (CECCAR) published the Romanian version of the International Standard on Related Services 4400 (revised), issued by the International Auditing and Assurance Standards Board (IAASB).
The agreed upon procedures engagements are widely used and the demand for such engagements is constantly growing, given the need for a higher degree of accountability regarding financing and grants. The International Standard on Related Services 4400 (revised) has been revised by the International Auditing and Standards Board (IAASB) in response to these trends and to promote the consistent interpretation and carrying out of engagements based on procedures agreed upon by practitioners.
ISRS 4400 (revised) deals both with the practitioner’s responsibilities when conduction an agreed upon procedures engagement and with the content and format of the agreed upon procedures report and it applies to agreed upon procedures engagements whose deadlines were set for January 1st 2022 or after that date.
The revised Standard is accompanied by a Factsheet: Introduction to ISRS 4400 (revised) Agreed upon procedures engagements, which briefly illustrates the purpose of these revisions and the material changes from the revised version of the Standard.
The Romanian version of ISRS 4400 (revised) and the Factsheet are available in pdf format on the Cod etic – Standarde internaționale