Agreed-Upon Procedures
In an agreed-upon procedures engagement, we perform specific procedures to assist our clients or other specified parties in evaluating certain subject matter, or assertions about subject matter, based on their needs. Our clients or specified parties agree on the procedures to be performed, and take responsibility for the sufficiency of those procedures for their purposes. We report on the results of applying agreed-upon procedures in the form of findings; we do not perform an examination or a review nor do we provide an opinion.
The agreed-upon procedures are applied to the subject matter using the criteria selected. In an agreed-upon procedures engagement, responsibility for the nature, timing, and extent of procedures lies with the client or other specified parties.
The subject matter for an agreed-upon procedures engagement may take many forms and may be as of a point in time or for a period of time. Examples of agreed-upon-procedures engagements include:
- Due diligence on buying a business
- Specific issues relating to selling a business
- Licensing and Royalty engagements
- Benefit Claims Audits
- Employer Compliance/Payroll Audits
For additional information: contact us