IFAC SMP Committee Response to the IAASB’s Discussion Paper on Agreed-Upon Procedures

The IFAC Small and Medium Practices Committee welcomes the International Auditing and Assurance Standards Board's agreed-upon procedures Discussion Paper. It strongly believes that the revision of International Standard on Related Services 4400, Engagements to Perform Agreed-Upon Procedures Regarding Financial Information, should be a high priority for the board. In general, the SMP Committee supports the proposals and direction of the Working Group, in particular the scope of agreed-upon procedure engagements, including non-financial information and other matters.