Agreed-upon procedures

Agreed-upon procedures,

Definition of Agreed-upon procedures:

  1. Engagements related to agreed-upon procedures to specified elements or accounts. Occur when an accountant is hired to issue a report on filings that are based on specific financial statement items. The report users agree on the procedures that are to be conducted by the accountant that the user believes will be suitable. In addition, the user will take responsibility for the adequacy of these procedures.

Meaning of Agreed-upon procedures & Agreed-upon procedures Definition