Agreed-Upon Procedures – An Inexpensive Alternative to Non-Profit Audits

Summary:  Many organizations, especially non-profits assume that a “clean” opinion on an audit indicates that there is no fraud, waste, or embezzlement.  However, audits are not designed to detect fraud and abuse, only to give an opinion regarding the correctness of the financial statements and notes.  An alternative to the audit are Agreed-Upon Procedures, which can be tailored to what the organization wants to have tested.  Agreed-Upon Procedures are a…

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