Agreed-Upon Procedures Engagement
Targeted testing of specific balances or covenants when lenders, shareholders, or counterparties request factual findings rather than an opinion.
Who it is for
Companies responding to bank covenant checks, earn-out calculations, or shareholder requests for factual testing.
Result
A factual findings report limited to the procedures you and the requesting party agree in writing.
Scope
Only the procedures listed in the engagement letter—no opinion on the financial statements as a whole.
Provider
Engagement manager with partner review.
Included
- Draft procedures schedule for counterparty review
- Execution of agreed tests
- Factual findings report
Not included
- Audit opinion
- Assurance beyond the listed procedures
How the work runs
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Draft procedures with requesting party
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Sign engagement letter
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Execute tests
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Issue findings report
Duration
One to three weeks after procedures are locked.
Location
On-site or document-based, as the procedures require.
Preparation
Source documents for each procedure and contact details for confirmations.
Constraints
Findings are factual only; we do not express an opinion.