With our agreed-upon procedures engagement services we are engaged to issue a report of findings based on specific procedures performed on subject matter. Typically the client engages us to assist specified parties in evaluating subject matter or an assertion as a result of a need or needs of the specified parties.
In this type of engagement, we do not perform an examination or a review, as explained in the other area of this site, and does not provide an opinion or negative assurance. Our report on agreed-upon procedures are in the form of procedures and findings.
The users of the report will develop their own conclusions from the report by the auditor.
The report is restricted to those individuals that have agreed to the procedures to be performed since others, unaware of the reasons for the procedures may misinterpret the results. For instance, an agreed-upon procedures engagement may be commissioned by an entity which is consolidating with another entity. The entity may engage an audit to report on specific aspects of the business that it is consolidating with.