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Classification of assurance engagement

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Classification of assurance engagement

  • This topic has 1 reply, 2 voices, and was last updated 13 years ago by Ken Garrett.
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  • April 14, 2012 at 11:35 pm #52217
    Anonymous
    Inactive
    • Topics: 14
    • Replies: 3
    • ☆

    assurance engagement is classified in various ways e.g. reasonable assurance engagement , limited assurance engagement , assertion based assurance engagement , direct assurance engagement . How this classification can be organised in a coherent way ? If a question ask about level assurance is it the reasonable and limited assurance engagement to discuss?

    April 15, 2012 at 3:55 am #96315
    Ken Garrett
    Keymaster
    • Topics: 10
    • Replies: 10606
    • ☆☆☆☆☆

    I think you need to know about only two pairs of terms:

    1 Reasonable assurance = positive assurance. This is what an audit report is.

    2 Limited assurance = negative assurance. (‘We did not find any problems…’). This is what a report on a cash flow will usually say.

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