Agreed-upon procedures are a tailored audit approach to meet specific client needs.
What are the areas that are of greatest concern to you? Typically we would work with your organisation to find the areas of concern, and clearly ring-fence these areas and the extent of testing we are to perform. For example areas where we have been asked to undertake agreed-upon procedures are:
The results of our work are reported in a factual manner detailing what we tested, and the results of that testing. We do not draw any conclusions about the financial report as a whole.
WHY MIGHT THIS BE RIGHT FOR YOU?
This is compromise option:
APPLICABLE STANDARDS
The most common standard is
ISAE (NZ) 3000: Assurance Engagements Other than Audits or Reviews of Historical Financial Information.