Effectiveness and efficiency are the cornerstones of our agreed-upon procedures services.
Agreed-upon procedures engagements can cover a variety of different areas, both financial and nonfinancial in nature.
We work with our clients to define the parameters of the engagement. We conduct agreed-upon procedures engagements in conjunction with financial statement audits, licensing agreements, business management, and other areas.
An agreed-upon procedures engagement can be a useful tool for mergers and acquisitions – helping potential buyers with their due diligence process.
Many of our agreed-upon procedures are in the form of due diligence engagements, where we examine pending purchases or transactions, such as mergers & acquisitions and real-estate dealings, to assist in determining whether the transaction makes sound business sense for our client, and that all relevant financial records are in order. Our vast pool of experience and thorough methodology aid us in uncovering specific issues or snags that may delay a transaction and aid us in minimizing surprises that may appear down the line.
The procedures can be comprehensive, and cover all assets and liabilities of the target, or can be focused on specific areas of concern (for example, on the existence and valuation of inventory or of property, plant, and equipment, or on the validity of stated accounts receivable and/or payable).
We offer recommendations and assessments supported by years of experience and a long-term view of best practices and industry trends. We offer a diverse list of services, including evaluations of:
- Accounting-related internal controls
- Policies and procedures
An agreed-upon procedures engagement on an entire system of internal controls could include procedures on all important processes such as cash receipts, cash disbursements, purchasing, sales, and payroll. Alternatively, the engagement could focus solely on overtime pay (payroll-related) or whether vendor discounts are being fully utilized (purchasing-related), for example.
Our auditors offer practical suggestions and recommendations for risk management and prevention, as well as potential upgrades or changes that are regulatory compliant, enhance organizational credibility, and add value to your business. Our auditors are well versed in the industries in which they perform audits and can therefore provide more specialized assessments and recommendations in an agreed-upon procedures engagement than a typical auditor may provide.
Miller Kaplan works in conjunction with your staff to minimize disruptions to business operations. We review and assess record keeping, asset protection, organizational structure, and other internal controls and processes. Our partners draw upon a wealth of experience and specialized audit techniques, which results in an incredibly detailed and thorough engagement that can uncover inefficiencies and other risks which may adversely affect the business.