In an agreed-upon procedures engagement, we execute definitive procedures to benefit you, or other specified users of our report, in assessing certain subject matter or assertions about subject matter, following a process driven exclusively by the needs of your business. You, or specified users of our report, agree upon the procedures to be performed and take responsibility for the sufficiency of the procedures for their purposes. The procedures we perform are applied to the subject matter based upon the criteria established. Our reports, on the results of applying the agreed-upon procedures, are in the form of our findings.
The subject matter for an agreed-upon procedures engagement may take many forms and may be of a specific date or for a defined period of time.
Examples of agreed-upon procedures engagements include:
- Due diligence on buying a business
- Specific issues relating to selling a business
- Audit procedure performed in conjunction with reviewed financial statements, such as confirmation of accounts receivable, observation of inventory
- Fraud search and assessment
Our firm has performed agreed-upon procedures engagements for companies of all sizes in a variety of industries.