Agreed Upon Procedures Engagements
Overview
Agreed-upon procedures engagements are a good tool to meet your client’s needs. There are times where an assurance engagement does not meet the requirements of the users needs or does not make sense in the circumstances. An agreed-upon procedures engagement can be performed on both financial and non-financial subject matters.
This verifiable CDP course will help practitioners to understand unique aspects of an agreed-upon procedures engagement including determining procedures that are objective and not subject to interpretation. Unlike an assurance engagement where the practitioner determines the appropriate procedures, the engaging party and the practitioner determines the procedures which result in factual findings. This session walks through real-life examples of agreed-upon procedures to help better meets the needs of clients.
Through illustrative examples, guidance on practical application and exploration of the standard, you will strengthen your ability to develop agreed-upon procedures, and report findings and exceptions.
Learning Objectives
By the end of the session participants will be able to:
- Appreciate the requirements of CSRS 4400
- Understand client acceptance or continuance matters including independence considerations
- Establish appropriate terminology of procedures to be performed
- Determine when the use of an expert may be required
- Understand the requirements of the engagement letter
- Report findings and understand how exceptions are identified
- Prepare the AUP report
Course Content
Module 01
Understand the practitioner’s objectives and scope of CSRS 4200
Module 02
Appreciate requirements related to accepting or continuing an AUP engagement
Module 03
Develop procedures that can be described objectively and are not subject to interpretations
Module 04
Report findings and exceptions based on the procedures performed
Module 05
Practical application related to documenting nature, timing and extent of procedures
Module 06
Review of key points and action planning
Module 07
Course Material: Course slides & links to CPA Canada relevant resources