Engagement
Agreed-Upon Procedures for Lenders
Targeted testing of covenants, collateral schedules, or specific account balances when a bank asks for procedures short of a full audit.
Quote based on procedure list
Request an engagement letter
When a regional bank requests confirmation of debt covenants, inventory pledges, or a single material receivable, an agreed-upon procedures engagement lets us perform only the tests listed—and report the factual results without issuing an audit opinion.
You (and often the lender) agree the procedure list in writing before work begins. Typical scopes include verifying covenant ratios from the trial balance, tracing collateral to fixed-asset registers, or confirming a sample of trade receivables.
Fees depend on the number and complexity of procedures. We provide a fixed quote after reviewing the lender’s request letter.
Included
- Written agreement on exact procedures with you and, where needed, the lender
- Factual findings report without an opinion or assurance conclusion
- Supporting schedules for tested balances
Outside scope
- Substitution for an annual financial statement audit
- Negotiation of loan terms on your behalf
Ready to schedule this review?
Tell us about your fiscal year-end and the statements you need examined. We reply within two business days.
Write to the audit desk