Agreed-Upon Procedures Audit

Together with management we define the review procedures to be applied, focused on internal control and business processes. Unlike a financial statements audit, here the scope is agreed by the parties from the outset, which makes it possible to concentrate the work where the company has the greatest concern.

Why is it necessary?

This type of review makes it possible to identify internal control weaknesses, improve existing policies and procedures, and identify potential fraud, without the scope or the cost of a full audit.

We are backed by more than 25 years providing audit services across industries such as tourism, retail, government and services. We have advised large companies and business groups on processes and internal control.

Scope

Issuance of observation letters addressed to senior management.

Related Consultants

Alejandro A. Arvizu Contreras

Corporate Governance and Financial Audit

José Alberto Rodríguez

Financial Audit

Oscar Carranza Bautista

Financial Audit

Frequently Asked Questions

Can fraud be identified through this work?

It can. By concentrating the review on the processes and controls with the greatest exposure, unusual transactions or controls being circumvented often come to light. It is not a forensic investigation, but it is one of the most efficient ways to detect warning signs.

Does this work detect internal control weaknesses?

Yes, that is its central purpose. The outcome is an observation letter documenting the weaknesses found and specific recommendations to correct them.

Are policies improved through this review?

Yes. The observations translate into recommendations on existing policies and procedures, and in many cases lead to updating them or creating those that were missing.