At our CPA office, we get a lot of calls for audit work, but most people do not understand that an audit is a very specific type of work and can be very expensive to perform.
An agreed-upon procedures engagement (AUP) or is an engagement in which an auditor/ CPA is engaged to carry out those procedures of an audit nature to which the auditor and the entity and any appropriate third parties have agreed and to report on specific findings. The recipients of the report form their own conclusions from the report created by the auditor.
The report is restricted to those parties that have agreed to the procedures to be performed since others, unaware of the reasons for the procedures may misinterpret the results. For example, an agreed-upon procedures engagement may be commissioned by an entity which is acquiring another business. The entity may engage an audit to report on specific aspects of the business that it is buying.
At CPA Accounting, we can offer clients agreed up on procedures that will help them regrading their concerns.
For agreed-upon procedures engagement, we provide a detailed report that will discuss the agreed-upon procedures followed to determine what the client needs to know.