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Waters (June 2014, Q2)

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AAA Exams › Waters (June 2014, Q2)

  • This topic has 3 replies, 2 voices, and was last updated 9 years ago by MikeLittle.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • April 24, 2016 at 10:16 am #312461
    bchs
    Member
    • Topics: 1
    • Replies: 6
    • ☆

    Hi Sir,

    For part (a)(i), review and report on Water’s Co PFI.

    The examiner answer states that the review would constitute a non-assurance service provided to an audited entity.

    I’ve read the technical article Continue to be rest assured.
    https://www.accaglobal.com/zm/en/student/exam-support-resources/professional-exams-study-resources/p7/technical-articles/continue-to-be-rest-assured.html

    From my understanding, this is an assurance engagement. Am I wrong? Please clarify me on this. Thanks!

    April 24, 2016 at 5:20 pm #312518
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23321
    • ☆☆☆☆☆

    The article clearly identifies PFI as an assurance service.

    I’m wondering whether the examiner’s answer has confused “non-assurance” with the “negative assurance” applicable to the auditor’s report

    I put into my search engine “PFI assurance engagement” and came up with “https://www.ifac.org/system/files/downloads/b013-2010-iaasb-handbook-isae-3400.pdf”

    This again identifies PFI engagement as an assurance engagement

    OK?

    April 25, 2016 at 5:08 am #312561
    bchs
    Member
    • Topics: 1
    • Replies: 6
    • ☆

    Noted. Thank you very much for helping, sir.

    April 25, 2016 at 8:12 am #312597
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23321
    • ☆☆☆☆☆

    You’re welcome

  • Author
    Posts
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