Agreed Upon Procedures
Agreed-upon procedures may be appropriate in the types of situations where your company desires independently verified and reported information, such as inspection of documents or transactions for specific transactions, confirmation of specific information with third parties, or comparison of data to a defined standard. The specific procedures are applied to certain terms, accounts or elements to provide informational reporting on the defined items. The reporting for this engagement provides a narrative of the specific procedures performed and the quantification for each such procedure.
Agreed – Upon procedures services include:
- Compliance with specific defined terms of an agreement or contract
- License and royalty compliance reporting
- Merger and acquisition, due diligence procedures