EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
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Overview
The AICPA’s Auditing Standards Board revised its attestation standards to eliminate many of the legacy requirements for agreed-upon procedures (AUP) engagements and allow independent accountants to perform these engagements in more situations. The revised standards change the nature of an AUP engagement by requiring only the engaging party to agree with the procedures. However, the specified parties (i.e., the intended users) can still be asked to agree with the procedures, and use of the report can still be restricted to those parties.