Agreed audit procedures
Agreed audit procedures, often referred to as agreed-upon procedures (AUP), are a specialized form of audit work performed by independent auditors. In the case of agreed audit procedures, the parties commissioning the audit determine the specific audit procedures and audit criteria in advance. This audit does not produce a comprehensive audit report, but the results are presented in the form of a report or a summary of the facts found.
The parties commissioning the audit can determine the exact audit procedures and audit criteria. This makes it possible to tailor an audit to the specific needs and requirements of the organization or situation. Agreed audit procedures usually have a specific purpose, such as the examination of a particular issue or a defined set of facts. This can be, for example, the verification of transactions in a certain period or the confirmation of details in a contract.
In contrast to the comprehensive audit, in which a full audit is performed, agreed-upon procedures may be limited to certain aspects or elements. The depth of the audit depends on the agreed audit procedures.
In many cases, the results of agreed audit procedures are only made available to the parties that commissioned the audit. This can help to protect sensitive information.
Agreed-upon procedures are used in a variety of contexts, including review of compliance with contractual terms, due diligence, review of financial disclosures to lenders or investors and review of specific financial transactions.
Overall, agreed-upon procedures offer a flexible and customized way to review specific issues or concerns without the cost and resources of a full audit.
As an independent auditor, we perform agreed-upon audit procedures. We have the necessary experience and training to fulfill the high demands and tasks reliably and competently. We attach great importance to personal support and tailor our approach to specific sectors and specialist areas in order to guarantee you maximum cost-effectiveness and benefit.