Agreed Upon Procedures
Tailored procedures to address your unique concerns
Taxnemesis considers Agreed Upon Procedures (AUPs) engagements a fantastic tool to address specific needs for assurance about transactions, balances, or other data within an entity. We often encounter situations when a financial statement audit is not required but owners, board of directors, or lenders require more assurance about a certain matter. A financial statement audit may not be cost effective to meet such needs or even able to deliver the focused assurance that is required.
We can help you structure tailored procedures to address those unique concerns.
The procedures can come in many shapes and sizes. Common examples are:
- Review support for cash disbursements
- Performing accounts receivable confirmations as commonly done in an audit
- Performing inventory test counts, also a common audit procedure
- Testing of bank reconciliations
After performing the agreed-up procedures, we will report our findings to you.
Another solution that may address your concerns about your organization’s accounting and financial affairs is an internal control study
