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?
Ask the Tutor ACCA AA
Classification of assurance engagement
14y ago
14y ago#1I 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.
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.
Sign into reply to this topic.