Agreed Upon Procedures are specifically tailored tests and procedures that provide an opinion issued by a CPA. The opinion concerns the outcome of those procedures, but can also show areas of potential increase in your company’s operational or administrative efficiency. The end-result being increased profitability and maintaining strong internal controls and compliance.
These tests and procedures are designed by a joint agreement between the CPA, the Company, and any interested third-parties named in the report. Agreed Upon Procedures range from reviewing a set of procedures or policies, reviewing the operating success of internal controls, or testing certain transactions for compliance with specific requirements (i.e. grant compliance requirement).
This service allows you to receive auditing attention and a CPA opinion in a specific area without having to do a full audit.
For example, let’s say you have difficulty collecting payments from customers. An Agreed Upon Procedure engagement allows our CPAs to examine your accounts receivable closely. We’ll identify areas for improving controls and refining processes to decrease collection time and lower bad debt write-offs.
To assure you the most accurate accounting knowledge and efficient practices, Forbush and Associates routinely undergoes peer review. We proudly maintain a history of successful reviews.