The limitations of the engagements to perform agreed-upon procedures regarding financial information according to ISRS 4400
This article aims to identify and illustrate the inherent limitations of an engagement to perform agreed-upon procedures regarding financial information by starting from an audit mission to perform agreed-upon procedures seeking, on one hand, to determine with the help of the financial statements the level of certain financial indicators underlying a bank loan application and, on the other hand, seeking to issue proposals for the Board of Directors of a company to have these financial indicators reach the minimum level starting with a projected date. Therefore, the reasons why such a mission doesn’t comply with the provisions of ISRS 3400, but with the ISRS 4400 provisions were identified, the latter being applicable to the agreed-upon procedures engagements. The limitations of such an engagement were noticed especially regarding the TERMS OF THE audit ENGAGEMENT within a contract signed for this purpose, developed by the authors, with their reporting and based on Decision no. 73 of September 20, 2006 of the Chamber of Financial Auditors Romania regarding the approval of the procedures for quality control of the financial audit activity and related services.
Volume (Year): 1 (2010)
Issue (Month): 12 (December)
|Contact details of provider:|| Postal: Str. A.I. Cuza nr. 13, Craiova|
Phone: 004 0251 411317
Fax: 004 0251 411317
Web page: http://feaa.ucv.ro/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:aio:fpvfcf:v:1:y:2010:i:12:p:83-93. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Alina Manta)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.