In an agreed-upon procedures engagement,an accountant
A) Follows all of the fundamental principles of GAAS.
B) Restricts the report to specified users.
C) Includes negative assurance in the report.
D) Gives a qualified audit report.

Question

Quizplus · Accepted Answer

In an agreed-upon procedures engagement, the accountant performs procedures that are agreed upon by the client and the users of the report, and then reports the findings of those procedures to the specified users. The report is restricted to those users, and the accountant does not provide any assurance on the findings. Therefore, choices A, C, and D are incorrect.

In an Agreed-Upon Procedures Engagement,an Accountant