Agreed Upon Procedures

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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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It further added 'KPMG has now completed its findings and reported that all such payments and receipts have been verified, in line with the agreed-upon procedures performed, and that unused capital was returned to investors,' said a Financial Times (FT) report.
i) To perform specific agreed-upon procedures on Revenues, Costs, Payables and Receivables of KMK and its subsidiaries, further consolidation as a single economic entity, sectoral breakdown (e.
Agreed-upon procedures engagements are a special type of attest services that differ significantly from consulting services in purpose and reporting and performance requirements.
The CalCPA Government Accounting and Auditing Committee reviewed the state Controller's proposals on Agreed-upon Procedures for the wrap-up of redevelopment agencies earlier this year and determined that CPAs would be in jeopardy if they agreed to perform those procedures.
An example of an independent accountant's report on applying agreed-upon procedures related to the entity's SIPC assessment reconciliation will be included in the 2009 AICPA Audit and Accounting Guide Brokers and Dealers in Securities and posted on the AICPA Web site.
At congressional request, we have incorporated additional information on the agreed-upon procedures engagements required by the Ensuring Continued Access to Student Loans Act and the reconciliations performed by the Department of Education's Office of Federal Student Aid.
This Statement of Position (SOP) is an interpretive publication and represents the recommendations of the XBRL Assurance Task Force of the American Institute of Certified Public Accountants (AICPA) Assurance Services Executive Committee regarding the application of Statements on Standards for Attestation Engagements (SSAEs) (attestation standards established by the AICPA) to engagements in which a practitioner performs and reports on agreed-upon procedures related to the completeness, accuracy, or consistency of XBRL-tagged data.
Hands-on experiences work when they are the central component of well-planned sequences of lessons designed to explore problems, develop procedures for addressing problems, carry out agreed-upon procedures that provide answers to student inquiries, and allow follow-up discussion.
Subgrantees expending less than $300,000 in federal funds annually are no longer required to conduct conforming audits; however, government pass-through agencies must employ effective monitoring or agreed-upon procedures to fulfill their responsibilities.
Cindy Doyle was recently promoted to Senior Manager in charge of Clark Nuber's Finance and Accounting Services Group, a division of the firm that provides services to small- and medium-size businesses in the form of temporary and permanent accounting services, support for start-ups and emerging companies, internal control reviews, compliance testing, agreed-upon procedures, and general business consulting services.
Tenders are invited for independent accounting firms to examine the records and to perform certain agreed-upon procedures (the "engagement") in accordance with ncaa rules, for the department of intercollegiate athletics and in accordance with generally accepted accounting principles and the guidelines of the governmental accounting standards board.
An attest engagement is defined as occurring when a CPA is engaged to issue an examination, review, or agreed-upon procedures report on any subject matter (or an assertion about the subject matter) that is the responsibility of another party.