• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

New! BPP Books for ACCA September 2022 Exams are now available, get your discount code >>

limited assurance engagement

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AAA Exams › limited assurance engagement

  • This topic has 5 replies, 2 voices, and was last updated 7 months ago by Kim Smith.
Viewing 6 posts - 1 through 6 (of 6 total)
  • Author
    Posts
  • November 22, 2021 at 2:41 pm #641318
    Noah098
    • Topics: 936
    • Replies: 352
    • ☆☆☆☆☆

    again this is too silly ma’am and I should be knowing this from AA, but seems like I have forgotten it completely, so could you shed some lighten it?

    is there any such thing as inappropriate opinion in context of limited review engagement?

    like there is modified opinion in reasonable assurance engagement, is there any such thing in case of limited assurance engagement ?

    November 22, 2021 at 3:06 pm #641326
    Kim Smith
    Keymaster
    • Topics: 88
    • Replies: 6090
    • ☆☆☆☆☆

    Indeed there is – see the bottom of page 9 of our NOTES for an unmodified conclusion on a limited assurance engagement – if the professional accountant cannot say “NOTHING has come to our attention …” they would have to report that SOMETHING has come to their attention – providing details of this would qualify their conclusion.

    See the bottom of page 10.

    November 22, 2021 at 3:44 pm #641330
    Noah098
    • Topics: 936
    • Replies: 352
    • ☆☆☆☆☆

    you are just amazing!!! thank you as always!

    just one more related to this topic,

    maam what could be other “INTENDED USES” of limited assurance engagement report apart from being needed as a part of loan application?

    November 22, 2021 at 4:50 pm #641335
    Kim Smith
    Keymaster
    • Topics: 88
    • Replies: 6090
    • ☆☆☆☆☆

    Page 123 of the notes – review engagement
    Page 125 of the notes – PFI
    Page 135 of the notes – due diligence

    If you DOWNLOAD them you can search for answers.

    November 23, 2021 at 12:32 am #641345
    Noah098
    • Topics: 936
    • Replies: 352
    • ☆☆☆☆☆

    No no ma’am that isn’t quite my question. I was asking in a different context.

    Let’s say Limited assurance eng is done on PFI primarily for loan application of client. But then the audit firm needs to confirm from mgt what are the other intended uses apart from being used to support loan application to assess its risk exposure.

    So in this context I was wanting to know other “intended uses”

    November 23, 2021 at 8:10 am #641356
    Kim Smith
    Keymaster
    • Topics: 88
    • Replies: 6090
    • ☆☆☆☆☆

    Doesn’t matter – the professional accountant’s report will state the purpose of the report and “caveat” that it should not be used for any other purpose – it doesn’t have to say what that other purposes there could be in a given situation.

  • Author
    Posts
Viewing 6 posts - 1 through 6 (of 6 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

Donate

If you have benefited from OpenTuition please donate.

Specially for OpenTuition students

20% off BPP Books

Get BPP Discount Code

Latest comments

  • jingdong on Pensions (IAS 19) – Introduction – ACCA (SBR) lectures
  • jingdong on Pensions (IAS 19) – Example – ACCA (SBR) lectures
  • Joanne94 on The Management Accountant’s Profit Statement – Marginal Costing – ACCA Management Accounting (MA)
  • mannannagpal on Sources of data – ACCA Management Accounting (MA)
  • mannannagpal on Sources of data – ACCA Management Accounting (MA)

Copyright © 2022 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in


We use cookies to show you relevant advertising, find out more: Privacy Policy · Cookie Policy