Page 181 - CA Final Audit Titanium Full Book. (With Cover Pages)

CA Ravi Taori
• Inspection
• Obtaining confirmations

(CNO SRS 4400.100) Reporting
Understanding: The report on an agreed-upon procedures engagement needs to describe the purpose and the
agreed-upon procedures of the engagement in sufficient detail to enable the reader to understand the nature and
the extent of the work performed.
No Audit or Review Mention: The report should also clearly mention that no audit or review has been
performed.
The report of factual findings should contain: -

Title:
Addressee: The report of factual findings should contain the addressee (ordinarily, the appointing authority).
Identification of Specific Information: Identification of specific financial or non-financial information to
which the agreed-upon procedures have been applied.
Purpose of the Procedures: Identification of the purpose for which the agreed-upon procedures were
performed.
Statement of Procedures Performed: A statement that the procedures performed were those agreed-upon with
the recipient.
Compliance with Standard on Related Services: A statement that the engagement was performed in
accordance with the Standard on Related Services applicable to agreed-upon procedures engagements.
Listing of Specific Procedures: A listing of the specific procedures performed.
Factual Findings: A description of the auditor’s factual findings including sufficient details of errors and
exceptions found.
No Assurance Statement: A statement that the procedures performed do not constitute either an audit or a
review and, as such, no assurance is expressed.
Potential Additional Findings Statement: A statement that had the auditor performed additional procedures,
an audit or a review, other matters might have come to light that would have been reported.
Report Restriction Statement: A statement that the report is restricted to those parties that have agreed to the
procedures to be performed.
Report Limitation Statement: A statement (when applicable) that the report relates only to the elements,
accounts, items or financial and non-financial information specified and that it does not extend to the entity’s
financial statements taken as a whole.
Date of the Report: The date of the report should be included.
Place of Signature: The place of signature should be stated.
Auditor’s Signature: The report should contain the auditor’s signature.

(CNO SRS 4400.120) Documentation
Evidence: The auditor should document matters which are important in providing evidence to support the
report of factual findings, and evidence that the engagement was carried out in accordance with this SRS and
the terms of the engagement.

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