Module 9: Special assurance engagements
Module 9 covers some of the special types of engagements that you may
come across in public practice. Some, such as review engagements, are very
common, whereas others, such as the special reports for pension plans and
financial institutions, are quite rare.
When you have completed this module, you will be able to determine
assurance needs and engagement scopes for a variety of non-audit
engagements. You will have a good understanding of how to execute
assurance plans, develop conclusions, and prepare reports or letters. Finally,
you will know how to develop financial forecasts and plans, and design and
prepare special reports for decision-making purposes.
Test your knowledge
Begin your work on this module with a set of
designed to help you gauge the depth of study required.
Explain the level of assurance provided by a review engagement, the
standards that apply when performing one, and the accountant
in performing a review engagement. (Level 1)
Describe the issues in reviewing interim financial statements, including
the considerations, standards, and reporting requirements involved.
(Levels 1 and 2)
Describe the considerations and requirements involved in issuing a
special report on financial information other than financial statements
or compliance with agreements, statutes, and regulations. (Level 2)
Explain the role, procedures, requirements, and communications
connected to an auditor
s involvement with a prospectus. (Level 2)
Distinguish between a forecast and a projection, and explain when an
examination of one is required, as well as the related audit procedures,
documentation, and reporting requirements. (Level 2)
Describe a compilation engagement and the accountant
s role in
performing one. (Level 1)
Describe the considerations involved in applying specified auditing
procedures to financial information other than financial statements.
Outline the considerations involved in an audit of internal control over
financial reporting that is integrated with an audit of financial
statements. (Level 2)
AU2 - Module 9