Agreed Upon Procedures

Verification of specific financial data or transactions, such as revenue recognition, expense classification, or asset valuation.

Examination of compliance with specific regulatory requirements or industry standards, such as tax regulations, licensing requirements.

Assessment of the effectiveness of internal controls over financial reporting or operational processes, identifying weaknesses or areas for improvement.

Examination of specific transactions or events, such as mergers and acquisitions, divestitures, investments, or loan agreements, to ensure accuracy.

Verification of compliance with grant or funding requirements, including eligibility criteria, allowable expenses, and reporting obligations, for organizations receiving grants.

Examination of specific allegations or suspicions of fraud or financial irregularities, including asset misappropriation, financial statement fraud, or corruption, to gather evidence activities.

Evaluation of IT systems, controls, and security measures to assess compliance with IT policies, data integrity, and protection against cyber threats.

Verification of compliance with terms and conditions of contractual agreements, payment terms, and other contractual provisions.

Tailored procedures designed to address unique challenges or risks specific to certain industries or sectors,  construction, banking, or manufacturing.

Client Consultation and Objective Definition

Scope Determination and Planning

Data Collection and Documentation Review

Review and
Approval

Communication of Findings

Follow-up and Monitoring