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Agreed Upon Procedures

   Also found in: Acronyms 0.01 sec.
Agreed Upon Procedures
The procedures an accountant uses when preparing a statement for a party when the party requires the accountant to use these procedures and takes responsibility for their adequacy and accuracy. The accountant does not express an opinion on the procedures, but must abide by them for purposes of preparing the requested statement.


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All agreed upon procedures engagements are now performed under the attestation standards.
4, Agreed Upon Procedures Engagements, were issued because of a wide diversity in practice and because important issues were not addressed in existing statements.
Auditors of Multi Family Housing Program participants should be aware of changes in HUD rules that now require a separate agreed upon procedures engagement to be performed.
 
 
 
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