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This work may be completed to a level of detail above that of an audit in certain circumstances and provide significantly increased implied assurance over certain transactions. Overall, it provides the engaging company significant involvement in the defining of the procedures to be performed.
These engagements are referred to as ‘Agreed Upon Procedures’ engagements and are governed by the Australian Auditing Standards.
While not a common engagement type, Grant Thornton has significant expertise in such engagements and can assist in the defining of an appropriate and efficient scope of engagement – and agreed upon procedures – to meet the needs of your company.
Partner & Head of National Assurance Quality
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In the meantime, if you have any questions, please don't hesitate to contact us via communications@au.gt.com.
New and revised accounting standards, AASB 108
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