Engagement
Agreed-Upon Procedures for Lenders & Investors
Fact-finding procedures on specific balances, covenants, or transaction schedules — reported as findings, not an opinion.
Who it is for
Borrowers answering bank covenant checks, sellers preparing diligence packs, and investors verifying selected line items.
Result
A report listing procedures performed and factual findings without assurance opinion language.
Delivery
Written findings report addressed to named parties
Duration
1–3 weeks
Pricing basis
Procedure-based fixed fee — starting from ¥350,000
Included
- Jointly defined procedure list with the engaging party
- Sampling or 100% testing as agreed
- Clear statement of limitations and intended users
Not included
- Assurance opinion or review conclusion
- Public distribution beyond named addressees without consent
Process
-
Procedure letter
Agree exact steps, sample sizes, and report format.
-
Execution
Perform the agreed tests on the specified population.
-
Findings report
Deliver factual findings to the named parties.
Preparation
Population extracts, covenant definitions, and contact details for confirmations.
Constraints
We will not expand procedures mid-engagement without a revised letter and fee.
Next step
Send the draft procedure list and reporting deadline.