attestation engagement

and another clarification,an auditor that provides audit engagement needs to provide an audit report and an assurance report.Am i correct?

No, an audit is an audit and is not the same as either an attest engagement nor a review engagement. Reasonable assurance in an audit is saying that the financial statements show (or don't show) a true and fair view in the opinion of the reporting partner Attest and review engagements don't look at the financial statements as a whole but concentrate on just specific elements (attest) or seek to confirm that, without carrying out a full audit, the reviewer has reviewed and nothing has come to the reviewer's attention to suggest that the figures may be incorrect (but that, if an audit were conducted, that might change that assessment)

Sorry, I missed your second post's question! No, again. In an audit, the end result is the opinion of the reporting partner about the truth and fairness of the view shown by the financial statements. This opinion is expressed through the document "The auditors' report to the members of ABC Plc" There's no concept of an additional report (assurance report per your post)

Ok,so is it correct to say review engagement provides limited assurance since it doesnt look at d financial statement as a whole?and there are two types of review engagement.the attestation engagement (positive opinion) and direct reporting engagement (negative opinion)?

No opinion is given for a review engagement - only an audit has an opinion Only limited assurance can be achieved by anything less than a full audit, so no positive opinion, sorry. "Nothing has come to our attention to suggest ...." or a report on factual findings "Having carried out the agreed upon procedures, we report as follows: ...(and then set out the facts of your procedures)" But no opinion

ok i see..so no opinion will be given upon review engagement however assurance on the fs will be given and this will be a limited assurance.Under review engagement there are two types.attestation which gives a reasonable assurance on the fs compared to direct reporting engagement with gives a limited assurance on the fs.correct?

I don't believe that an attest engagement gives reasonable assurance! An attest engagement (briefly) involves examining, reviewing or performing agreed-upon procedures on the subject matter of an assertion. Having performed the review or agreed-upon procedures, the accountant who performed the assignment will issue a written report that expresses a conclusion about the dependability of the assertion. But this is NOT an opinion. Your use of the expression "reasonable assurance" is worrying! An auditor will seek reasonable assurance that financial statements are free from material misstatement and will express an audit opinion A review, attest, agreed-upon-procedures assignment does not involve an audit, does not involve reasonable assurance and does not involve an opinion Examples of attest engagements include 1) confirming that the client has complied with applicable laws and regulations 2) assessing the effectiveness of a client's system of internal control over financial reporting routines is appropriate OK now?

yup i think i got it..thanks sir for your time!

You're welcome