Agreed-Upon ProceduresA company or individual may have assurance needs that are specific in nature and do not require an audit of financial statements. An agreed-upon procedures engagement involves a CPA being engaged (hired) by a client to perform specific procedures pertaining to a specific process or subject area. At the beginning of the engagement, the accountant and the client discuss in detail what is going to be tested and how the testing will be performed. Upon completion of the testing, the accountant issues a report to the client that includes an explanation of the testing process and any related findings (exceptions). Although an agreed-upon procedures report does not express an opinion related to the work performed, it can provide a cost effective means of validating certain information or processes that impact many business decisions. Some examples of agreed-upon procedures are:
Our ApproachWe perform all agreed-upon procedures engagements in accordance with standards issue by the American Institute of Certified Public Accountants. Prior to starting an engagement, we first discuss and understand the nature of the assurance that our client is expecting to obtain. Inconsistent or non-measurable criteria or testing will likely lead to vague results that are not useful to our client and are not in accordance with the standards we must follow. We would be glad to answer any questions you might have or to further discuss our approach to agreed-upon procedures engagements. |
