Reports on the Results of Applying Specified Auditing Procedures to Financial Information Other Than Financial Statements

Section 9100

Reports on the Results of Applying Specified Auditing Procedures to Financial Information Other Than Financial Statements

Section 9100

Section 9100
  • In this type of engagement, the public accountant does not perform all the procedures that, in his or her judgment, would be necessary in an audit or review engagement
  • The public accountant only performs those procedures requested by his or her client
    • These procedures cannot be subjective (i.e. giving the auditor flexibility in determine the procedures)
    • The procedures should be specific
    • Subjective procedure = perform cut-off procedures on revenues
    • Good procedure = randomly select 50 sales invoices recorded in the GL, inspect the dates on the invoices, and report whether the sales occurred between January and December 2012
    • Tip = avoid general terms like test, review, interview, check
  • The engagement report will set out the results of the procedures applied, including any errors found
  • The public accountant does not express an audit opinion or provide negative assurance on the financial information
  • The public accountant can assist the client by discussing the client’s needs and the type of auditing procedures that would satisfy it
  • The public accountant and staff should have adequate technical training and proficiency in performing procedures of an audit nature
  • Ensure that:
    • The engagement is adequately planned
    • The engagement is conducted and the report of findings prepared with due care and with an objective state of mind
    • The assistants employed on the engagement are properly supervised
  • The engagement report should specify the procedures actually performed because it is only with this knowledge that a reader of the report can determine how much assurance he or she should derive from it
  • State in the engagement report that an audit has not been performed and include a disclaimer of opinion
  • When reporting on the results of applying specified auditing procedures to financial information, the public accountant should:
    • Specifically identify the financial information to which the auditing procedures were applied
    • Specify the procedures performed
    • State only the factual results of those procedures and not express any form of negative assurance
    • State that an audit has not been performed on the financial information and disclaim an opinion
    • Indicate restrictions, if any, on distribution of the report
    • Disclose the addressee, the name of the public accountant (or firm), the date of the report, and the place of issue
Example of Reports Relating to the Amount of Gross Sales

To: A. Trustee Limited

Re: Client Limited

As specifically agreed, I have performed the following procedures in connection with the above company’s certificate dated December 31, 2017 as to the amount of the company’s Funded Obligations as at December 31, 2017

[list of procedures]

As a result of applying the above procedures, I found [no / the following] exceptions [list of exceptions]. However, these procedures do not constitute an audit of the company’s Funded Obligations, and therefore I express no opinion on the amount of Funded Obligations as at December 31, 2017.

City        (signed) ………………………………..


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