Agreed-upon procedures engagements are not designed to create audited financial statements but to perform specific tests and procedures and report on the results. Such tests and procedures may include: implementation of Federal and State compliance requirements, specific account transactions for certain accounting areas, debt covenant requirements and internal controls. Agreed-upon procedures can be utilized to examine a particular area of a business for weaknesses or inefficiencies. For example, a client may want to determine whether their internal controls are adequate and performing in the manner designed.
Halliday, Schwartz & Co. provides data extraction services (sometimes called "data mining") to test for fraud and/or provide a variety of information for management analysis. Areas that can be tested include payroll, accounts payable, revenue billing, and inventory. We can extend our services beyond data extraction into detail investigation, contribute with fraud policy design, and suggestions for internal control enhancements.
We will be glad to discuss your needs and design a set of appropriate procedures.