Boyum Barenscheer

Boyum Barenscheer is an accounting firm whose audit department carries out agreed-upon procedures, or AUP, engagements. These give an organisation a report of findings on a specific subject for a third party, as a narrower alternative to a full audit, following AICPA standards.

Products and services

• Agreed-upon procedures: engagements used to assess mergers or acquisitions, meet bank conditions for loans or credit increases, and check practices at start-ups and growing firms.
• Recommendations: suggested improvements to the subject tested, when the governing body asks, with findings presented to that body on request.
• Internal controls and fraud prevention: reviews of an organisation's controls.
• Employee benefit plan audits: audits of retirement and benefit plans.

Who it serves

Organisations that need independent findings for lenders, buyers or boards, from start-ups to established businesses.

Key facts

• Membership: Employee Benefit Plan Audit Quality Center of the AICPA
• Process: a planning meeting, a draft set of procedures for approval, then scheduling; work lasts from a few hours to over a week