Agreed-upon procedures

Agreed-upon procedures engagement – carrying 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.

An engagement to perform agreed-upon procedures may involve the auditor in performing certain procedures concerning individual items of financial data (for example, accounts payable, accounts receivable, purchases from related parties and sales and profits of an entity), a financial statement (for example, a balance sheet) or even a complete set of financial statements.