F8

Front 1

Assurance engagement

Back 1

Assurance engagement is one in which a practitioner expresses a conclusion to enhance the degree of confidence of the intended users other than the resposibility party about the subject matter information

Front 2

Objective of assurance engagement

Back 2

There are 2 type of objective

1:resonable A E

2:limited A E

Reasonable assurance engagement report give the true and fair report of the financiial statement which is high ,but not absolute.the auditor report does not gurante bt they are true and fair with a reasonable margin of errors+

The conclusin usulally be expressed in positive+ form

Ltd assurance engagement is a lower level of assurance .the practitiner gathers suficnt appropriate evidense to conclude that the subjct matter is plausable in the circumstances and give the report in the form of negative assurance-

Front 3

Review engagement

Back 3

A review of finnacila statement consisit primarily of enquiry,analytical procedure and discussion related to information supplied to the public accountnt by the client.a review can provide cost efficient alternative to an audit where an audit is not require by law ,and would provide limited assurance

2 types of review engagement

.attestation angagement

.direct engagement