AGREED-UPON PROCEDURE - auditor state oh 2025

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Statutory audit, also known as financial audit, is one of the main types of audits which is to be done as per the statutes applicable to the entity.
In an audit conducted under agreed-upon procedures, the auditor provides only factual findings and doesnt offer opinions, conclusions or assurances in the final report. Instead, the auditors report presents the facts, with the audit facilitators drawing their own conclusions from the findings.
Agreed-upon Procedures (AUP) are tests of certain selected areas of the balance sheet and/or income statement. Here, individually agreed-upon procedures, such as target/actual comparisons, recon-ciliations and confirmations are carried out and any deviations identified are presented.
SOC 2 Audits vs. AUP: Key Differences. SOC 2 audits offer a comprehensive assessment of data security practices, providing high assurance with detailed reports aimed at a broad audience. In contrast, AUPs focus on specific procedures, delivering limited assurance with targeted reports for particular users.
In an agreed-upon procedures engagement, the practitioner performs the procedures that have been agreed upon by the practitioner and the engaging party, where the engaging party has acknowledged that the procedures performed are appropriate for the purpose of the engagement.

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AUP: Key Differences. SOC 2 audits offer a comprehensive assessment of data security practices, providing high assurance with detailed reports aimed at a broad audience. In contrast, AUPs focus on specific procedures, delivering limited assurance with targeted reports for particular users.
Agreed-Upon Procedure Audit (AUP) AUPs narrow the scope of work to reviewing key internal controls and performing targeted. testing of significant transactions. Results show an average of 69 percent savings on full audit. costs, depending on the entity type and services provided by the entity.

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