The agreed-upon procedure is a standard defined when we engage with our customers to perform audit and advisory activity for them for specific project or business process. The agreed-upon procedures are the audit standards designed and agreed with us and customers as well as the third party, if involved.
Our agreed-upon procedures engagement involves procedures of an assurance from which no conclusion or opinion is expressed and no assurance is provided. At Majid Alfelasi & Associates, we carry out very specific work procedures to address the area of concerns in a focused manner. The auditor, entity, and/or any third party agrees to report on the factual findings. This procedure of agreed-upon avoid unnecessary work and provides a much better and broader opinion.
Our report on the findings is usually restricted to the parties who have actually developed the agreed-upon procedures because of the specificity of the desired results. The audit at Majid Alfelasi & Associates conducts under agreed-upon procedures, where our auditors provide the factual findings and not the opinions, conclusions, or assurances in the final report.