Section 9100 was developed over 25 years ago and Section 9110 was developed over 10 years ago. Since the development of these two Sections, there have been significant changes in the business environment such as increasing requests for agreed-upon procedures (AUP) engagements on non-financial subject matters beyond the scopes of Sections 9100 and 9110. Further, responses from Canadian stakeholders on the IAASB’s Discussion Paper, Exploring the Demand for Agreed-Upon Procedures Engagements and Other Services, and the Implications for the IAASB’s International Standards, suggest a need for a clarified and modernized AUP standard that:
- addresses financial and non-financial subject matters;
- clarifies the role of professional judgment in an AUP engagement;
- clarifies what constitutes appropriate terminology for describing procedures and findings in an AUP report;
- addresses the use of a practitioner’s expert in an AUP engagement; and
clarifies that the AUP report may be provided to a party that is not a signatory to the engagement agreement.