An Agreed-Upon Procedures engagement is a form of assurance work in which the auditor performs specific, defined procedures on financial information and reports the factual findings, without expressing an overall audit opinion. AUP engagements are used when the parties involved have agreed on the precise procedures to be performed and the form of report to be issued. They are particularly useful in commercial transactions, regulatory submissions and due diligence contexts where a full audit is unnecessary but independent professional verification of specific financial data is required.
CashLaw Global designs and executes Agreed-Upon Procedures engagements for clients across a wide range of applications, including verification of specific balance sheet items for lending purposes, confirmation of sales or royalty figures for franchise arrangements, verification of grant or subsidy utilisation for government entities, and financial verification for commercial dispute resolution. AUP reports issued by CashLaw Global are accepted by UAE banks, free zone authorities, government bodies and commercial counterparties.
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Book Free ConsultationAn AUP engagement is an assurance service where the auditor executes specific, predefined testing procedures agreed upon by the client and any relevant third parties (e.g., banks or regulators). Instead of providing a broad audit opinion, the auditor issues a factual report detailing the exact findings of those tests.
An AUP is preferred when a stakeholder needs independent verification of a specific financial component rather than the entire balance sheet, such as verifying the accuracy of an accounts receivable aging report for an asset-backed bank loan or testing specific royalty calculations.
Yes. Banks frequently request AUP reports to get independent, factual validation regarding specific financial covenants, collateral asset valuations, or debt-to-equity ratios before approving major corporate credit lines.