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How to Properly Perform an Agreed-Upon Procedures Engagement
June 22 @ 10:00 am - 12:00 pm$100.00
What does it take to properly perform an agreed-upon procedures (AUP) engagement under the AICPA Professional Standards? Find out in this session as we explore in detail AUP engagements, as they are one of the most misunderstood and under-utilized service out there for accountants. An AUP engagement is one in which a CPA firm or sole practitioner is engaged by a client to issue a report on findings based on specific procedures requested by their client (the “subject matter”). The client engages the CPA firm or sole practitioner to go on a “fact-finding” mission and report back to management what they have found and let management decide what to do next with that information. In these types of engagements, there is no assurance provided by the accountant.
Who Should Attend
CPA firms and sole practitioners who are either performing or considering performing AUP engagement services for small to mid-size private entities.
- Dispelling the myths surrounding agreed-upon procedures engagements
- Nature and extent of this unique service
- Identifying the terms subject matter and responsible party for the procedures performed
- Proper reporting of findings to be included in the report
- Recognize both practical and insightful perspectives on how a CPA firm or sole practitioner take into consideration the most recent changes for AUP engagements
- Recognize the most common ways AUP engagements are used
- Describe how to properly identify who is responsible party and what procedures should be performed