An Agreed Upon Procedures (AUP) Report is a formal document that outlines the specific procedures performed by an accountant or auditor, and the findings resulting from those procedures. It is essential to ensure that the report is professionally presented, easy to understand, and adheres to professional standards.
Independent Accountant’s Report on Applying Agreed-Upon Procedures
Key Elements of an AUP Report Template
1. Report Title Page
Report Title: Clearly state the purpose of the report, such as “Agreed Upon Procedures Report on [Specific Procedures]”.
Client Name and Address: Provide accurate and complete information about the client.
Auditor’s Name and Address: Include the name, address, and contact information of the accounting firm or individual performing the procedures.
Report Date: Indicate the date the report was issued.
Engagement Period: Specify the time frame covered by the procedures.
2. Table of Contents
Executive Summary: A concise overview of the report’s key findings and conclusions.
Scope of Work: A detailed description of the agreed-upon procedures.
Findings: A presentation of the results of the procedures performed.
Conclusions: An analysis of the findings and their implications.
Limitations: A statement of the limitations of the procedures and the report.
Management Representations: A summary of any representations made by management.
3. Executive Summary
Purpose: Briefly state the objective of the engagement.
Scope: Summarize the specific procedures performed.
Findings: Highlight the key findings of the procedures.
Conclusions: Present the overall conclusions based on the findings.
Limitations: Mention any significant limitations of the procedures.
4. Scope of Work
Objective: Clearly state the specific objectives of the engagement.
Procedures Performed: Provide a detailed description of each procedure, including:
The specific steps involved
The source data used
The criteria applied
Management Representations: List any significant representations made by management that were relied upon in performing the procedures.
Limitations: Clearly state any limitations on the scope of the procedures, such as:
The procedures were not designed to identify all material misstatements
The procedures do not provide assurance about the effectiveness of internal controls
By following these guidelines, you can create a professional and effective AUP report template that will meet the needs of your clients and comply with professional standards.