I am sure many CFOs, key executives, business development officers and financial advisors can relate to this: Do I go for an audit, a due diligence review or an agreed-upon procedures (AUP) engagement? To check whether a financial audit is appropriate, I had to go back to his stated purpose. At the end of an audit engagement, the acquiring organization’s stated purpose would not be addressed. I then took the opportunity to explain to my friend the difference between a due diligence review and an AUP engagement. A review engagement from a compliance point of view is different from a review engagement required to support an M&A transaction.

Source: Manila Times February 11, 2018 17:03 UTC