Wessels & Co

Non-assurance Services

Agreed Upon Procedures 

    What are agreed-upon procedures?
  • In an agreed-upon procedures engagement the requirements are agreed           up-front and we then design and perform a set of appropriate procedures
  • This type of engagement is designed to provide specific information about         particular matters

    • Why conduct an agreed-upon procedures engagement?
  • Specific information is required from a third party on a targeted area, such         as a funder requiring information in relation to a grant

    • What do you get?
  • A report on the factual findings resulting from the procedures that have               been performed
  • The report will be restricted to the party requesting that the procedures be         performed and that party must form their own conclusions from the                     procedures performed and the factual findings reported

Compilations

Our compilation experience

    We prepare general purpose and special purpose financial reports using specialised financial reporting software for:
  • ASX listed companies 
  • Large proprietary companies
  • Companies limited by guarantee
  • Incorporated associations
  • Trusts

    • We have broad industry experience and have worked with clients in the following industries: Agriculture, Aged Care, Education, Engineering, Health, Mining and Mining Services, Professional Associations, Property including REITS, Technology, Financial Services and Construction.
    What is a compilation?
  • A compilation is literally a compilation of financial information from                       underlying records into a format required by accounting standards, for               example, the compilation of your annual financial statements.

    • Why conduct a compilation?
  • Users of the information derive benefit through the professional                           competence and due care with which the work is carried out
  • Financial records are formatted in a standard manner that can easily be               reviewed by third parties, such as a bank that might be considering making         a loan
  • A compilation is can be conducted at a substantially lower cost than either a       review or an audit

    • What do you get?
  • A report that we have compiled the information but that the procedures do       not include verification or validation procedures and that no opinion or               assurance is expressed on the financial statements.