How to Properly Perform an Agreed-Upon Procedures Engagement (Currently Unavailable)
Author: Salvatore Collemi
| CPE Credit: |
2 hours for CPAs |
What does it take to properly perform an agreed-upon procedures (AUP) engagement under the AICPA Professional Standards? Find out in this session as we explore in detail AUP engagements, as they are one of the most misunderstood and under-utilized service out there for accountants. An AUP engagement is one in which a CPA firm or sole practitioner is engaged by a client to issue a report on findings based on specific procedures requested by their client (the “subject matter”). The client engages the CPA firm or sole practitioner to go on a “fact-finding” mission and report back to management what they have found and let management decide what to do next with that information. In these types of engagements, there is no assurance provided by the accountant.
Publication Date: June 2021
Designed For
CPA firms and sole practitioners who are either performing or considering performing AUP engagement services for small to mid-size private entities.
Topics Covered
- Introduction
- Overview
- AUP vs. Consulting
- Accepting an AUP Engagement
- Planning an AUP Engagement
- Procedures to Perform
- Workpaper Documentation
- Review & Evaluation of Workpaper Files
- AUP Reporting
- Resources
Learning Objectives
- Recognize both practical and insightful perspectives on how a CPA firm or sole practitioner take into consideration the most recent changes for AUP engagements
- Recognize the most common ways AUP engagements are used
- Describe how to properly identify who is responsible party and what procedures should be performed
- Identify what AT-C firms should provide AUP engagements for
- Identify a characteristic/requirement of SSAE No. 19
- Differentiate which AT-C establishes requirements specific to performing AUP engagements
Level
Intermediate
Instructional Method
Self-Study
NASBA Field of Study
Auditing (2 hours)
Program Prerequisites
Some experience in performing agreed-upon procedures engagements.
Advance Preparation
None
