North Quay Assurance Partners

Engagement

Agreed-upon procedures for lenders and buyers

Precisely defined procedures on cash, inventory, or covenant calculations — reported as factual findings for banks, buyers, or joint venture partners.

Request an engagement letter
Business meeting with charts and notebooks on the table

Who this is for

Companies facing a bank facility renewal, share purchase diligence, or JV contribution where a full audit opinion is not required but independent testing is.

What is included

  • Joint drafting of procedure list with you and the relying party
  • Execution of agreed tests on specified accounts or dates
  • Factual findings report without an audit opinion
  • Optional bilingual cover note for overseas counterparties

What is outside scope

  • Assurance opinion on the fairness of the financial statements as a whole
  • Valuation opinions for business combinations
  • Litigation support testimony unless separately scoped

How the work proceeds

  1. 1

    Agree the list

    Procedures must be specific enough that a third party understands exactly what was tested.

  2. 2

    Perform and document

    We execute only what was agreed — no silent expansion into a mini-audit.

  3. 3

    Issue findings

    The report states procedures and results; management remains responsible for conclusions drawn.

Duration

Two to six weeks depending on the procedure list and evidence access.

Delivery

Primarily document-based with site visits when inventory or fixed assets are in scope.

Preparation

Clear written request from the relying party and ready access to the populations under test.

Pricing basis

Quoted as a fixed fee once the procedure list is final.

Discuss your audit year-end See fee guidance

Lenders sometimes ask for “comfort” that is really an audit by another name. We will say so early and steer the conversation toward either a proper statutory engagement or a tightly written procedures list — never a vague comfort letter.