Agreed Upon Procedures
Focused Assurance for Specific Business Needs
AAPAC provides agreed-upon procedures engagements for organisations that require independent work to be performed over specific information, transactions, balances, controls, or compliance matters.
An agreed-upon procedures engagement is not a full audit. Instead, the procedures are agreed in advance, performed on the specified subject matter, and reported as factual findings. No audit opinion or assurance conclusion is expressed, allowing the intended users to evaluate the results based on their own requirements.
This type of engagement is useful when stakeholders require targeted verification, compliance checks, or independent reporting on specific matters without the scope of a full financial statement audit.
Common Applications
Verification of financial information
Independent verification of selected financial data to enhance accuracy, credibility, and stakeholder confidence.
Grant and Funding Compliance Reviews
Assess compliance with grant conditions and funding requirements to ensure proper use of allocated resources.
Internal Control Assessments
Evaluate existing controls and processes to identify weaknesses and support stronger governance practices.
Contractual Compliance Requirements
Review specific contractual obligations and verify whether agreed terms and conditions have been fulfilled.
Due Diligence Procedures
Perform targeted reviews of financial and operational information to support investment, acquisition, or business decisions.
Specific Transaction Reviews
Examine particular transactions to verify accuracy, compliance, and adherence to agreed procedures or requirements.
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