AUP (Agreed Upon Procedures) Reporting

In an interview conducted by Jerry Epstein, Chayim Kessler CPA introduces AUP Reporting. He explains what an Agreed Upon Procedures Report is and specifically focuses on AUP reports for Florida Schools that receive Florida state scholarship funding (Step Up for Students). He explains the accounting for and the requirement to follow certain procedures to obtain and maintain funding. Further definition of the AUP reports is discussed as well as an introduction into the understanding of audited, reviewed, and complied financial statements. The repercussions of not following the procedures and the required corrective plan of action, as well as, fiscal year reporting, filing deadlines, and the timeframe of obtaining the required information to prepare the report, is introduced. Mr. Kessler explains he works with Ira Wasser, CPA who issues and files the final report with the State.