Reviews of Compliance with Agreements and Regulations

Section 8600

Reviews of Compliance with Agreements and Regulations

Section 8600

Section 8600
  • This section should be read in conjunction with section 8100
  • An example of an engagement under this section would include a loan agreement which requires the public accountant to report on the compliance of covenants such as the maintains of a specified current ratio
  • Audit report on compliance with agreements, statutes and regulations is covered under section 5815
  • In addition to the inquiry, analytical procedures and discussion, the accountant should:
    • Read the applicable provisions of the agreement or regulation
    • Make inquiries concerning the information maintained by the enterprise to monitor its compliance
    • Consider consistency in the application of interpretations that have been made of the applicable provisions of the agreement or regulation

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