What is an Agreed-Upon Procedure Report on DECD Grant/Loan Contracts that is found in Appendix E of the DECD Audit Guide and when is it applicable?
• An Agreed-Upon Procedure Report is an alternative to a Program-specific audit for certain Grant/Loan contracts. It requires a prior written agreement with the DECDs Office of Financial Review Audit Section. The request must be made in advance using the Request Letter found in Appendix E of the DECD Audit Guide. For example: • A for-profit auditee that received Manufacturing Assistance Act (MAA) Funds whose contract requires that a project audit be filed with DECD within 90 days of project completion; and who is not subject to other State or Federal Audit requirements. • A for-profit auditee that received a Federal Award whose contract requires that a project audit/audited cost certification be filed with DECD within 90 days of completion; and who is not subject to other State or Federal Audit requirements.
