What is an agreed-upon procedures engagement?

An agreed-upon procedures engagement involves an arrangement between an entity and a third party to produce factual findings about financial information or operational processes.

While there are numerous reasons an entity may consider an agreed-upon procedures engagement, typical drivers include:

• Poor financial performance

• Accounting issues

• System changes

• Change in decision makers

• Staff movements

• Industry/legislation changes

• Preparing for an upcoming audit

• Acquisition/sale opportunity

Key features/benefits of an agreed-upon procedures engagement:

• Flexible/tailored

• Defined scope

• Independent

• Cost-effective

• Assist with risk management

• Assist with business process improvement

• Peace of mind to business owners

Examples of agreed-upon procedures engagements:

• Internal controls review

• Stock procedures review

• Payroll review

• Cash handling review

• Systems review

• Due diligence

To discuss how we may be able to assist your entity, please feel free to contact us.

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