Perform specifically agreed procedures and issue a report of factual findings to assist the relevant parties.
Perform specifically agreed procedures and issue a report of factual findings to assist the relevant parties.
The service scope, timeline, and required documents are determined after understanding the organization's activities, needs, and the nature of the professional engagement.
A clear and flexible methodology, tailored to the nature of the service and the scope of the engagement.
Discuss the entity's activities, the objective of the service, and the related challenges or obligations.
Prepare an initial list of the data and documents required to assess the scope of work accurately.
Define the service scope, deliverables, timeline, fees, and responsibilities before work begins.
Perform the agreed procedures, analyze the data, and follow up on queries with the client.
Review the work and deliverables internally, then discuss material observations when necessary.
Deliver and explain the final outputs, and identify any subsequent steps within the engagement scope.
Final deliverables are agreed in the proposal and engagement letter and may vary depending on the volume of work and available data.
A document defining the agreed procedures, their purpose, intended users, and responsibilities.
Document the tests, procedures, and data relied upon during execution.
A report setting out the facts and findings identified without providing assurance beyond the agreed scope.
Discuss the results with relevant parties where this is included in the service scope.
Practical answers about requirements, scope, timing, and expected deliverables.
Agreed-upon procedures focus on predefined tests and report factual findings, while an audit aims to express a professional opinion on the financial statements within a broader framework.
They are defined in coordination between the company, the client, and relevant parties and must be clear and executable before the engagement begins.
The report is usually limited to describing the procedures and factual findings and does not provide an audit opinion or assurance unless the engagement is of a different type.
Beneficiaries and use restrictions are defined in the engagement letter and report according to the purpose of the service.
