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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.
Virtualaccountingandtax.com
Virtualaccountingandtax.com
As the auditor simply provides a report of the factual findings of agreed upon
procedures, no assurance is expressed. Instead, users of the report assess for
themselves the procedures and findings reported by the auditor and draw their own
conclusions from the auditors work.
The report is restricted to those parties that have agreed to the procedures to be
performed since others, unaware of the reasons for the procedures, may misinterpret
the results.
The auditor should comply with the Code of Ethics for Professional Accountants issued
by the International Ethics Standards Board for Accountants (the IESBA Code).
Integrity:
Being honest towards the work they do without being biased, having or giving any
opinion towards the company.
Virtualaccountingandtax.com
Virtualaccountingandtax.com
Objectivity:
Maintaining the ethics the auditor needs to be professional and cannot take any sides.
Taking the circumstances into account one should have the capability to avoid harm to
another party.
Confidentiality:
Professional behaviour:
Technical standards
In an audit conducted under agreed upon procedures, the auditor provides only
factual findings and does not offer opinions, conclusions or assurance in the final report.
Following all these objectives there are various companies that offer agreed upon
procedure services and Virtual is one of such company where you can get all the
services.
Virtualaccountingandtax.com