KASNEB-AUDITING AND ASSURANCE-AGREED UPON PROCEDURES

📋 KASNEB Auditing & Assurance – Agreed-Upon Procedures (AUP) Lesson ⚖️

Learn about Agreed-Upon Procedures (AUP) engagements, their purpose, process, and reporting requirements in auditing and assurance. This lesson is designed for KASNEB students preparing for exams and professional practice.

💡 Key Topics Covered:

Introduction to Agreed-Upon Procedures (AUP)

Definition: Procedures agreed between the auditor, client, and intended users

Difference between AUP and other assurance engagements

Purpose of AUP Engagements

To provide factual findings rather than an opinion

Often used in due diligence, compliance checks, and financial verifications

Planning the Engagement

Understanding the client’s needs and intended users

Determining the scope, objectives, and procedures to be performed

Conducting the Procedures

Performing specific agreed-upon procedures such as inspection, observation, confirmation, and recalculation

Maintaining documentation and evidence of work performed

Reporting Findings

Reporting factual findings only; no audit opinion or assurance

Clearly stating limitations and scope of the engagement

Communicating directly with intended users

Advantages of AUP

Flexible and tailored to user requirements

Lower cost compared to full audit engagements

Provides specific, actionable information

Limitations of AUP

Findings cannot be used as an audit opinion

Limited to the procedures agreed upon

Not suitable for broad assurance needs

🎯 Who Should Watch:

KASNEB Auditing and Assurance students

Internal auditors, compliance officers, and accountants

Professionals involved in verification and reporting exercises

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Structured lessons, case studies, and exercises designed to help learners master auditing concepts and practical assurance techniques.

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