AGS 1 is a compilation of commonly used sample independent auditor’s reports.
ISCA and the AGS 1 Sub-Committee have worked with EDB to develop additional procedures in relation to new reporting requirements under EDB’s tax incentive scheme. Appendix 5B, which pertains to an agreed-upon procedures report in connection with an example of an EDB tax incentive scheme, has been updated to include these procedures.
The additional procedures relate to checking of tax incentive conditions such as qualifying business expenditure, fixed asset investments and employment conditions.
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