The objective of an agreed-upon procedures engagement is for the auditor to carry out procedures of an audit nature to which the auditor and the entity and any appropriate third parties have agreed and to report on factual findings. As we simply provide a report of the factual findings of agreed-upon procedures, no assurance is expressed.
This agreed-upon procedures engagement is carried out in accordance with SSRS 4400, Engagements to Perform Agreed-upon Procedures Regarding Financial Information.
The reports are typically required by the respective stakeholders, e.g. Economic Development Board (EDB) expenses certification, revenue certification for landlord and contracts compliance review.
