Sometimes your assurance needs don’t require the rigors and expense of an audit or even a review engagement. In such cases, a carefully structured Agreed-upon Procedures (AUP) engagement may be the perfect alternative. Under certain circumstances the AUP engagement can be a better and more effective and practical choice.
While we apply the same professional standards to AUP engagements as we do our audit and review engagements, AUP engagements are far less involved and can yield valuable information about specific matters that may not be possible with an audit or review engagement.
In an AUP engagement, we first identify the specific areas of interest or types of information that are most critical to the parties’ assurance objectives. We then work together with the parties to design procedures to yield results about the specific information or areas of focus identified. These results are summarized in a written report that clearly indicates what was done and what resulted from the procedures performed.