Table of Contents

Introduction and Background 1


SEC Rules 1


XBRL Terminology 2


Agreed-Upon Procedures Engagements 3


Conditions for Engagement Performance 4


Agreement on and Sufficiency of Procedures 5


Subject Matter and Related Assertions 6


Establishing an Understanding With the Client 7


Nature, Timing, and Extent of Procedures 9


Responsibilities of Management 9


Responsibilities of the Practitioner 10


Procedures to Be Performed 10


Involvement of a Specialist 11


Reporting Considerations 12


Explanatory Language in the Practitioner’s Agreed-Upon Procedures Report 14


Adding Specified Parties (Nonparticipant Parties) 15


Written Representations 16


Knowledge of Matters Outside Agreed-Upon Procedures 16


Effective Date 17


Appendix A 18


Illustrative Management Assertions 18


Appendix B 19


Illustrative Engagement Letter 19


Appendix C 22


Illustrative Representation Letter 22


Appendix D 25


Illustrative Procedures and Findings 25


Appendix E 63


Illustrative Agreed-Upon Procedures Report 63


Appendix F 65


Glossary 65

About the Author

Founded in 1887, the American Institute of Certified Public Accountants (AICPA) represents the CPA and accounting profession nationally and globally regarding rule-making and standard-setting, and serves as an advocate before legislative bodies, public interest groups and other professional organizations. The AICPA develops standards for audits of private companies and other services by CPAs; provides educational guidance materials to its members; develops and grades the Uniform CPA Examination; and monitors and enforces compliance with the accounting profession’s technical and ethical standards.


The AICPA’s founding established accountancy as a profession distinguished by rigorous educational requirements, high professional standards, a strict code of professional ethics, a licensing status and a commitment to serving the public interest.