1.5 Scope of Work1.5.1 The Auditor

1.5 Scope of Work
1.5.1 The Auditor shall undertake this engagement in accordance with these ToR and;
- in accordance with the International Standard on Related Services (‘ISRS’) 4400 Engagements to perform Agreed-upon Procedures regarding Financial Information as promulgated by the IF AC;
- in compliance with the Code of Ethics for Professional Accountants issued by the IF AC. Although ISRS 4400 provides that independence is not a requirement for agreed-upon procedures engagements, the European Commission requires that the Auditor also complies with the independence requirements of the Code of Ethics for Professional Accountants.
1.5.2 Planning, procedures, documentation and evidence
The Auditor should plan the work so that the procedures can be effectively performed. For this purpose he performs the procedures specified in 1.9 of these Terms of Reference (‘Scope of Work – Compulsory Report Format and Procedures to be Performed’) and uses the evidence obtained from