Course Hero Logo

Differences Between Reasonable Assurance Engagements and Limited Assurance Engagements.docx

Course Hero uses AI to attempt to automatically extract content from documents to surface to you and others so you can study better, e.g., in search results, to enrich docs, and more. This preview shows page 1 - 2 out of 2 pages.

Type ofengagementObjectiveEvidence-gathering proceduresThe assurancereportReasonableassuranceengagementA reduction inassuranceengagement risk to anacceptably low levelin the circumstancesof the engagement, asthe basis for apositive form ofexpression of thepractitioner’sconclusionSufficient appropriateevidence is obtained as part ofa systematic engagementprocess that includes:Obtaining anunderstanding of theengagementcircumstances;Assessing risks;Responding to assessedrisks;Performing furtherprocedures using acombination ofinspection, observation,confirmation, re-calculation, re-performance, analyticalprocedures and inquiry.Such further proceduresinvolve substantiveprocedures, including,where applicable,obtaining corroboratinginformation, anddepending on the natureof the subject matter, testsof the operatingeffectiveness of controls;
End of preview. Want to read all 2 pages?

Upload your study docs or become a

Course Hero member to access this document

Term
Fall
Professor
N/A

Newly uploaded documents

Show More

Newly uploaded documents

Show More

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture