How to Properly Perform an Agreed-Upon Procedures Engagement
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 recently issued standard SSAE No. 19? Find out in this course as we explore in detail AUP engagements, as they are one of the most misunderstood and under-utilized services 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: December 2023
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 and Evaluation of Workpaper Files
- AUP Reporting
- Resources
Learning Objectives
- Identify how a CPA firm or sole practitioner takes into consideration the most recent changes for AUP engagements
- Identify within how many days of the release of the report a CPA firm should assemble the documentation in a file
- Identify a characteristic/requirement of SSAE No. 19
- Identify the standard that notes that procedures might not be agreed upon until the completion of the engagement and that users are responsible only for determining whether to rely on the report
- Identify the SSAE that eliminated the requirement that all AUP reports be restricted
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
