The implementation of agreed investigative actions (agreed-upon procedures as per ISRS 4400) is characterised by the fact that the auditor only reports on established facts, without making a separate assessment. The responsibility of assessing the adequacy of the investigation actions carried out and the findings, and for drawing conclusions, remains with the contractors or the users of our reporting.
This is where there is a fundamental difference to business audit assignments with sufficient or limited assurance. Here, the result of the audit procedures is an overall assessment, which the contractors or users of our reporting can rely on.
Typical applications:
- Contracts related to EU research framework programmes
- Reconciliation of figures based on computation of accounting records or legally assessed financial statements (e.g. in connection with financial covenants certificates for credit institutions).
Contracts where no overall assessment is delivered, but assessments of individual circumstances are made, do not fall within the scope of agreed-upon procedures. In such cases, we collaborate with you to find the appropriate audit assignment for the specific case.