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This report outlines the procedures performed by independent accountants to comply with Ohio Revised Code Section 117.15, detailing the count of cash and securities, confirmations of accounts, and

How to fill out agreed-upon procedures report

How to fill out Agreed-Upon Procedures Report

1. Begin with the title of the report, clearly stating 'Agreed-Upon Procedures Report'.
2. Include the date of the report and the period covered by the procedures.
3. List the parties involved in the engagement and describe the scope of the procedures agreed upon.
4. Define the specific agreed-upon procedures performed.
5. Document the results of each procedure, including any findings or observations.
6. State any limitations of the report, if applicable.
7. Include a conclusion summarizing the results of the procedures.
8. Provide a signature line for the auditor or practitioner who conducted the procedures.

Who needs Agreed-Upon Procedures Report?

1. Businesses undergoing audits or assessments.
2. Organizations requiring independent verification of compliance or controls.
3. Stakeholders needing assurance on specific financial reports or operational metrics.
4. Regulatory bodies requiring reports for compliance.

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 type of third-party report that outlines specific procedures agreed upon by the client and the auditor. The auditor performs these procedures to report findings based on predefined criteria.

Who is required to file Agreed-Upon Procedures Report?

Entities or individuals who engage an auditor to conduct specific procedures on financial data, usually in contractual, regulatory, or compliance contexts, may be required to file an Agreed-Upon Procedures Report.

How to fill out Agreed-Upon Procedures Report?

To fill out an Agreed-Upon Procedures Report, an auditor must document the agreed procedures, findings, and any deviations observed during the engagement, ensuring clarity and objectivity throughout the report.

What is the purpose of Agreed-Upon Procedures Report?

The purpose of an Agreed-Upon Procedures Report is to provide a clear and objective summary of the auditor’s findings based on specific procedures agreed upon by both the client and the auditor, offering assurance or insights based on those findings.

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

An Agreed-Upon Procedures Report must include the nature of the agreed-upon procedures, the scope of the work performed, the auditor's findings on each procedure, and any relevant comments or observations.