Agreed-Upon Procedures (AUP) engagements provide a great opportunity for small- and medium–sized practices (SMPs) to grow, and deliver a valuable client service. IFAC (The International Federation of Accountants) has released a new publication, Agreed-Upon Procedures (AUP) Engagements: A Growth and Value Opportunity. The publication describes AUP engagements, when they are appropriate, and, identifies key client benefits. It also covers examples of financial and non-financial information AUP engagements and provides six short case studies with example procedures that might be applied.

This short video highlights the concepts, proposals and IPSASB preliminary views contained in the Accounting for Revenue and Non-Exchange Expenses Consultation Paper.

The deadline for commenting on the IPSASB Consultation Paper Revenue and Non-Exchange Expenses closes on 15 January 2018.

The IAASB’s Emerging forms of External Reporting (EER) Task Force  developed a Feedback Statement to highlight the responses received on the August 2016 Discussion Paper, Supporting Credibility and Trust in Emerging Forms of External Reporting: Ten Key Challenges for Assurance Engagements. This Feedback Statement provides an overview of the key messages from the responses to the questions in the Discussion Paper.

The International Auditing and Assurance Standards Board (IAASB) is now seeking nominations for a Project Advisory Panel (“PAP”) being established to support its recently approved project to develop guidance on key challenges in assurance engagements over Emerging Forms of External Reporting (“EER”), in accordance with the approved Project Proposal.