When a company needs detailed information on an isolated issue or topic, agreed-upon procedures (AUPs) are relied upon. While not as complete as a comprehensive audit, AUPs are focused on ensuring the compliance with certain procedures, verify internal controls or to give trusted findings on aspects of a company’s financial reporting.
Without giving an opinion or conclusion, a CPA’s AUP report will still give credible, reliable information back to company executives or related parties such as banks, lenders or investors.
AUPs are cost-effective and can be executed at any point when needed. Transactions such as M&A, when fraud is suspected or financial reporting seems inconsistent to prior period, an AUP is an ideal way to gauge compliance and effectiveness of a company’s processes and procedures including:
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