Agreed upon Procedures

In some cases and under certain circumstances, when an audit is not required, consideration may be given to a special project engagement concerning financial reporting processes and controls.
An engagement to perform agreed-upon procedures (AUP) may involve the auditor in performing certain procedures of an audit nature concerning individual items of financial data, a financial statement or even a complete set of financial statements, to which the auditor and an entity client and any appropriate third parties have agreed-upon and to report on factual findings.
In our firm, we conduct AUP engagements in accordance with the “Code of Ethics for Professional Accountants” issued by the international federation of accountants (IFAC) and with the individual specific terms that have been agreed-upon of such engagements.