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This report presents the agreed-upon procedures carried out for the Regional Airport Authority of Belmont County, assessing the accuracy of the cash-basis accounting records and compliance with certain

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 parties involved in the engagement.
3. Provide a description of the purpose of the report and the agreed-upon procedures that were performed.
4. List the specific procedures that were carried out.
5. Present the findings from each procedure, using clear and concise language.
6. Include any relevant supporting documentation or data as appendices.
7. Conclude with a summary of the results and any recommendations, if necessary.
8. Ensure that all signatures, including that of the preparer and any relevant officials, are included.

Who needs Agreed-Upon Procedures Report?

1. Entities undergoing financial audits who need to verify specific financial information.
2. Regulatory agencies that require reports to ensure compliance.
3. Investors and stakeholders seeking assurance on certain financial metrics.
4. Internal auditors conducting reviews of specific financial processes.
5. External auditors needing additional evidence to support their opinions.

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 accounting report where an auditor performs specific procedures agreed upon by the client and a third party but does not express an opinion on the financial statements.

Who is required to file Agreed-Upon Procedures Report?

Entities that require a specific set of procedures to be performed for compliance or regulatory purposes may be required to file an Agreed-Upon Procedures Report, including companies, non-profits, and governmental organizations.

How to fill out Agreed-Upon Procedures Report?

To fill out an Agreed-Upon Procedures Report, outline the specific procedures performed, document the findings, and present the results in a clear format, ensuring all parties involved agree to the scope and definitions of the agreed-upon procedures.

What is the purpose of Agreed-Upon Procedures Report?

The purpose of an Agreed-Upon Procedures Report is to provide third parties with specific findings based on predetermined tests or evaluations without the auditor providing a formal opinion.

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

The report must include the procedures performed, findings, conclusions based on those findings, and a clear statement regarding the scope and limitations of the report.