Wiley Practitioner's Guide to GAAS 2020

54AT-C 215 Agreed-Upon Procedures Engagements

Scope

Definition of Term

Objectives of AT-C Section 215

Requirements

Independence

Preconditions

Terms of Engagement

Requesting a Written Assertion

Procedures

Involvement of a Practitioner’s External Specialist

Involvement of Internal Auditors or Other Practitioners

Written Representations

The Practitioner’s Report

Restrictions on the Performance of Procedures

Adding Specified Parties

Communicating with the Responsible and Engaging Partners

Documentation

Statement of Position

Third-Party Due Diligence Services Related to Asset-Backed Securitizations: SEC Release No. 34-72936 (Issue Date: February 2015; Revised April 2016)

Illustrations—Illustrative Practitioner’s Agreed-Upon Procedures Reports (AT-C 215.A48)

SCOPE

AT-C 215 applies when performing all agreed-upon procedures engagements, except engagements to issue comfort letters to underwriters. Guidance for those engagements can be found in AU-C 920. On every attestation engagement, the practitioners must comply with Section 105, one of the service sections numbered in the 200s, and any relevant subject matter section in the AT-C 300 section. (AT-C 210.01 and .08) See the chapter on the AT-C Preface for more information about the AT-C section structure.

If practitioners engage to perform agreed-upon procedures as part of or in addition to another type of service, AT-C 215 applies only to the agreed-upon procedures service. The report on agreed-upon procedures may be combined with ...