An agreed upon procedures engagement is one in which the auditor performs specific procedures to attest to management's assertions for an outside third party.

Question

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In an agreed-upon procedures engagement, the auditor is engaged to carry out procedures of an audit nature to which the auditor, the entity, and any appropriate third parties have agreed and to report on factual findings. The users of the report must form their own conclusions from the report by the auditor.

An Agreed Upon Procedures Engagement Is One in Which the Auditor