An Agreed upon procedure (AUP) involves performing certain procedures concerning individual items of financial data, a financial statement, or even a complete set of financial statements and providing a report of the factual findings. Our agreed upon procedures are conducted in accordance with International Standards on Related Services (ISRS 4400)

When you may need our Agreed upon Procedure Service?

• Management wants to focus on specific areas of financial or non-financial subject matters to satisfy intended user’s needs, such as comparing the inventory balance to the inventory sheet, agreeing the accounts payables balances to third party confirmations, tracing the use of grant funds, or recalculating the volume of greenhouse gas emissions.
• Management seeks comfort that certain disclosures required by applicable standards have been provided.

What are the benefits of an Agreed upon Procedure service?

• It offers flexibility, as the service can be tailored to different circumstances and focused on individual items of financial or non-financial subject matters.
• Management may request specific work be performed to satisfy intended user needs. External users can also specify the reporting format.
• Findings may be reported with respect to the effective operation of particular financial reporting processes and controls.
• An agreed-upon procedures report can be included as a supplement to the financial statements providing additional information to management, staff and other stakeholders in relation to specific elements of the financial statements.
• It may satisfy financing or supplier-specific needs that do not require any level of assurance.