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An accountant may accept an engagement in which the scope is limited to applying to one or more specified elements, accounts, or items of a financial statement agreed-upon procedures that are not sufficient to enable him to express an opinion on the specified elements, accounts, or items, provided (a) the parties involved have a clear understanding of the procedures to be performed and (b) distribution of the report is to be restricted to named parties involved.
Auditing -- Standards -- United States; Auditors' reports -- Standards -- United States; Financial statements -- Standards -- United States
Accounting | Taxation
American Institute of Certified Public Accountants. Auditing Standards Board, "Special Reports: applying agreed-upon procedures to specified elements, accounts, or items of a financial statement; Statement on auditing standards, 035" (1981). Statements on Auditing Standards. 34.