Engagement
Agreed-Upon Procedures
Targeted procedures on specific balances or covenants — inventory counts, royalty calculations, or lender schedules — reported as factual findings.
Who this is for
Companies facing a one-time lender request, royalty verification, or inventory observation where a full audit is unnecessary.
Result you receive
A factual findings report describing the procedures performed and the results — without an opinion or assurance conclusion.
Scope
Included
- Joint drafting of the procedure list with you and the relying party where appropriate
- Performance of the listed procedures and documentation of results
- Factual findings report
Outside this engagement
- Opinions on fairness of financial statements
- Procedures outside the agreed list without a change order
How we work
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1
Lock the procedure list
Every step is written so the relying party knows exactly what will and will not be done.
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2
Perform and document
We execute the list, retain evidence, and note any limitations encountered on site.
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3
Issue findings
The report states what we found — no soft conclusions dressed as assurance.
Provide the draft schedule or covenant calculation and confirm site access for any count or observation.
Constraints: Findings are limited to the procedures agreed; expanding mid-engagement requires a written change.
Ready to define the engagement letter?
Send the lender’s or counterparty’s request wording so we can draft a matching procedure list.
Request a scoping call