Agreed Upon Procedures

An agreed upon procedure is an engagement in which an auditor is requested by a client to issue a report of findings based on specifically agreed procedures to be performed on subject matter. This could relate to a financial statement component or another written assertion. For example procedures can include certain tests on accounts payable, accounts receivable, purchases, sales, etc. The objective of such engagement is to carry out procedures of an audit nature and report the factual findings. The advantage of Agreed upon procedure is that the work will be limited to what is strictly necessary and will deliver the precise outcomes that you require.

Agreed-upon procedures are a recommended business practice in circumstances such as:

• Evaluating mergers or acquisition;
• Litigation preparation;
• Banking requirements for credit line increase or loans;
• Internal control evaluations;
• Compliance with laws and regulations reviews.

Our team perform the procedures and report the results on a factual basis and do not express an opinion or negative assurance. Instead, the report is issued in the form of procedures and findings. 

Agreed Upon Procedures fees are based on the volume and complexity of the assignment. For small and medium-sized local companies total fees can range from 2,000 AZN to 8,000 AZN.