In special situations, businesses are required to report situations that need a level of assurance that cannot be reached through a traditional audit or review. Agreed-upon procedures focus on what you specifically want reviewed. At Sol Schwartz & Associates, we work with you and the user to identify the appropriate agreed-upon procedures to reach the desired result. Although our report does not express an opinion of the findings, it does provide a very detailed accounting of the procedures used to prepare the report.
What are the benefits of agreed-upon procedures?
- Lower costs: Because the scope of this service is more focused than a full audit, we save time and decrease costs. The final report does not express an opinion, but provides a very detailed accounting of the exact procedures used. This can result in better accounting practices for your business.
- Obtaining loans: A bank may need assurances on receivables and inventory that serve as collateral for a loan. We can perform agreed-upon procedures for those specific elements. The report generated as a result could be more helpful to the banker and less costly to you.
- Tailored reports: An agreed-upon procedure helps businesses with concerns in a specific aspect of their operation. Because an entire audit isn’t necessary, we can focus on one area or department.
We invite you to contact us directly, or continue browsing our website to learn more about how we can help you.