Following are minimum agreed-upon procedures that independent accountants and institutions shall use in applying agreed-upon procedures related to expenses for or on behalf of intercollegiate athletics programs by affiliated and outside organizations not under the institution’s accounting control. The results of these procedures may be reported and included within the agreed-upon procedures report on the institution. See Appendix E.
The institution shall identify all intercollegiate athletics-related affiliated and outside organizations and obtain those organizations' statements for the reporting period. Once the institution has made these statements available, the independent accountant shall agree the amounts reported in the statement to the organization's general ledger or, alternatively, confirm revenues and expenses directly with a responsible official of the organization. In addition, the institution shall prepare a summary of revenues and expenses for or on behalf of intercollegiate athletics programs affiliated and outside organizations to be included with the agreed-upon procedures report.
The independent accountant shall obtain and review the audited financial statements of the organization and any additional reports regarding internal control matters if the organization is audited independent of the agreed-upon procedures required by NCAA legislation. The institution’s independent accountant shall also inquire of institutional and organizational management as to corrective action taken in response to comments concerning internal control structure (if any).
The institution may tailor these procedures based upon the areas of significance to the institution. The institution should keep the objective of the agreed-upon procedures in mind when determining the sufficiency of the procedures to be performed.
Compare and agree a sample of operating revenue categories reported in the organization’s statement during the reporting period to supporting schedules provided by the organization;
Compare and agree a sample of operating revenue receipts obtained from the above operating revenue schedule to adequate supporting documentation;
Compare and agree each operating expense category reported in the organization’s statement during the reporting period to supporting schedules provided by the organization;
Compare and agree a sample of operating expenses obtained from the above operating expense supporting schedules to adequate supporting documentation;
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