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This report describes the agreed-upon procedures performed to assist the Board of Trustees of Benton Township, Monroe County, Ohio, in evaluating its cash-basis accounting records and compliance with

How to fill out agreed-upon procedures report

How to fill out Agreed-Upon Procedures Report

1. Start with the title page, including the title 'Agreed-Upon Procedures Report'.
2. Include the date of the report and the parties involved.
3. Clearly state the purpose of the report.
4. Outline the specific procedures that were agreed upon.
5. Describe the methodology used to perform these procedures.
6. Present the findings in a clear and concise manner.
7. Include any recommendations based on the findings.
8. Conclude with the signature of the practitioner responsible for the report.

Who needs Agreed-Upon Procedures Report?

1. Businesses undergoing audits.
2. Accountants and auditors for financial reporting.
3. Investors or stakeholders requiring assurance on financials.
4. Regulatory bodies needing compliance confirmation.

People Also Ask about

What should the report on an agreed-upon procedures engagement contain?

. 21 The report of an agreed-upon procedures engagement needs to describe the purpose and the agreed-upon procedures of the engagement in sufficient detail to enable the user to understand the nature and extent of the work performed.

What is the objective of agreed upon procedures?

The objective of an agreed-upon procedures engagement is for the auditor to carry out procedures of an audit nature to which the auditor and the entity and any appropriate third parties have agreed and to report on factual findings.

What is an example of an agreed-upon procedure?

Examples of agreed-upon procedures The following are several examples: Due diligence reviews required before acquisitions or other major contracts. Testing of internal controls, security procedures and fraud detection processes.

What is a practitioner's report on agreed-upon procedures?

In an agreed-upon procedures engagement, the practitioner does not perform an examination or review engagement on the subject matter and does not provide an opinion or conclusion about the subject matter. The practitioner's report on agreed-upon procedures is in the form of procedures and findings.

What are the benefits of agreed upon procedures?

Customization and Flexibility: One of the primary benefits of AUP is the ability to tailor the procedures to meet specific needs. Businesses can focus on particular areas of concern or interest, such as specific financial transactions, internal processes, or compliance with certain regulations.

What is the meaning of agreed upon?

Definitions of agreed upon. adjective. constituted or contracted by stipulation or agreement. synonyms: stipulatory. noncontroversial, uncontroversial.

What are agreed procedures?

agreed procedure in British English (əˈɡriːd prəˈsiːdʒə ) noun. business. an official set of guidelines of the steps that should be followed in the event of a dispute between two parties, esp in arbitration between employee and employer.

What is the meaning of agreed-upon procedure?

An agreed-upon procedures engagement is an attestation engagement where a CPA issues a report of findings based on specific procedures performed on the subject matter.

For pdfFiller’s FAQs

What is Agreed-Upon Procedures Report?

An Agreed-Upon Procedures Report is a report that details specific procedures that have been agreed upon by the auditor and the entity being audited. The report summarizes the findings from these procedures without providing an opinion on the financial statements.

Who is required to file Agreed-Upon Procedures Report?

Entities that require an evaluation of specific areas of their financial statements or operational processes may be required to file an Agreed-Upon Procedures Report, often based on the needs of stakeholders or regulatory requirements.

How to fill out Agreed-Upon Procedures Report?

To fill out an Agreed-Upon Procedures Report, the auditor must outline the specific procedures performed, provide the results of those procedures, and include any necessary disclosures. Documentation of the agreed-upon procedures is crucial for clarity and compliance.

What is the purpose of Agreed-Upon Procedures Report?

The purpose of an Agreed-Upon Procedures Report is to provide users with factual findings based on specific procedures conducted, helping them make informed decisions without the auditor expressing an opinion on the overall financial statements.

What information must be reported on Agreed-Upon Procedures Report?

An Agreed-Upon Procedures Report must include the specific procedures performed, the findings of those procedures, the basis for the agreed-upon procedures, and a summary of any exceptions or issues identified during the process.