The procedures included in LeaseQuery’s AUP engagement include:
- Specific scenarios tested in relation to the lease amortization table
- The creation of journal entries by the software
An AUP engagement is performed in accordance with the American Institute of Certified Public Accountants (AICPA) Attestation Standard. A qualified CPA performs specific procedures and reports the findings without providing an opinion or conclusion. Because the engagement party best understands its own needs, they agree to the procedures and acknowledge their appropriateness for the intended purpose of the engagement. Intended users assess the procedures and findings reported by the CPA and draw their own conclusions from the work performed.
This report is available to all potential and current customers as a part of the company’s standard due diligence practice.
“In our increasingly complex lease accounting environment, there is an evident need for the expertise of relevant CPA practitioners in evolving subject matters,” said George Azih, CEO and founder of LeaseQuery. “By completing our AUP engagement, LeaseQuery is able to offer our clients another layer of assurance in trusting the value and compliance of the LeaseQuery solution.”
As the unpredictability of today’s financial environment continues, many companies are reexamining how technology can save time, money, and resources. Investing in a trusted lease accounting software that has been subject to an AUP engagement performed by a Big 4 firm related to certain accounting calculations and standards including ASC 842, GASB 87 and IFRS 16 lays the groundwork businesses need to achieve mandatory compliance, improve audit processes, enable efficiency, and empower smarter financial decisions. Find out why more than 10,000 accountants are using LeaseQuery’s platform here.
LeaseQuery helps more than 10,000 accountants and other finance professionals eliminate lease accounting errors through its CPA-approved lease accounting software. It is the first lease accounting software built by accountants for accountants. By providing specialized consulting services in addition to its software solution, LeaseQuery facilitates compliance with ASC 842, GASB 87 and IFRS 16—the most comprehensive regulatory reforms in 40 years for businesses across all sectors.