· AGREED UPON PROCEDURES · FINANCIAL ANALYSIS · CUSTOM ENGAGEMENTS
A Targeted Alternative to a Full Audit
An agreed-upon procedure engagement lets you define exactly what needs to be investigated and documented. Archer Lewis performs the procedures, reports the findings, and gives you the evidence you need, scoped to what the situation actually requires.
Jarrard, Nowell & Russell, LLC is a separate entity from Archer Lewis, LLC. Jarrard, Nowell & Russell, LLC provide attest and assurance services. Jarrard, Nowell & Russell, LLC create independent, objective assessments to give stakeholders confidence in financial reporting. Services include non profit audits, private company audits, employee benefit plan audits, reviews, compilations, agreed upon procedures, and prepared financials. These services are performed under professional standards established by the AICPA and require a high level of independence.
Our Approach
Targeted financial analysis for specific questions that need documented answers.
An agreed-upon procedure (AUP) engagement is exactly what it sounds like: you and Archer Lewis agree on the specific procedures to be performed, we perform them, and we report the factual findings, without an opinion or audit conclusion. AUPs are used when a specific financial question needs to be answered for a lender, investor, business partner, or legal proceeding, and a full audit would be more than the situation requires. They're flexible, efficient, and precisely scoped to what you actually need.
What's Included
What an agreed-upon procedure engagement covers
AUP engagements are defined by the procedures agreed upon at the start. These are common examples, not a fixed scope.
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Royalty & License Fee Verification
Confirm that royalty calculations or license fees are being calculated and paid correctly under contract terms.
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Loan Covenant Compliance
Verify that specific financial covenants in a loan agreement are being met, for lender reporting or internal monitoring.
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Accounts Receivable Verification
Confirm the existence, accuracy, and aging of accounts receivable balances.
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Franchise Compliance
Verify that franchisee financial reporting and royalty calculations meet franchisor requirements.
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Due Diligence Procedures
Targeted financial procedures during an acquisition, focused on specific risk areas rather than a full audit scope.
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Internal Control Testing
Test specific internal controls to identify weaknesses or confirm effectiveness, scoped to the areas of concern.
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Grant Compliance
Verify that grant funds were spent in accordance with grant agreement requirements.
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Custom Procedures
Any specific financial question that needs documented evidence. We work with you to define the procedures that answer it.
Not every question requires a full audit.
A full audit takes more time and produces conclusions that may go further than what your situation requires. An agreed-upon procedure delivers documented evidence for the specific question at hand, efficiently and precisely. Archer Lewis helps you scope the engagement correctly so you get exactly what you need.
Talk to an Advisory Specialist
Common Questions
What clients ask about agreed-upon procedures.
An audit produces an independent opinion on whether financial statements are fairly presented. An AUP produces a factual report of what was found when specific procedures were performed: no opinion, no conclusion beyond what the procedures themselves revealed. AUPs are more flexible and typically more efficient when a specific question needs answering.
Lenders verifying covenant compliance, franchisors checking franchisee reporting, investors conducting targeted due diligence, businesses investigating a specific concern, and parties to a contract who need documented verification of specific financial terms.
Yes, that's the point. You define what needs to be investigated, and we perform those procedures and report what we find. We'll advise on whether the procedures you've identified will actually answer your question, and suggest adjustments if needed.
Yes. AUP reports document factual findings in a structured, professional format that can be used as evidence in legal proceedings, contract disputes, and regulatory matters. We prepare reports that are clear, precise, and defensible.
It depends on the scope and the availability of records. Straightforward engagements can be completed in a few weeks. More complex procedures or limited access to records takes longer. We provide a timeline estimate after the scope is defined.
