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Unformatted text preview: Control - Integrated Framework” The Committee of Sponsoring Organizations of the Treadway Commission. 3 “Guidance on Assessing Control – The CoCo Principles” Criteria of Control Board, The Canadian Institute of Chartered Accountants. 4 See paragraphs 290.13 to 290.24 for guidance on what constitutes a network firm. 90 professionalaccountant in public practice is engaged to perform an assuranceengagement
regarding a report that an environmental consultant hasprepared about a company’s
sustainability practices for distribution tointended users, the environmental consultant is the
responsible party for thesubject matter information but the company is responsible for the
subjectmatter (the sustainability practices).
291.19 In assertion-based assurance engagements where the responsible party isresponsible for the
subject matter information but not the subject matter, themembers of the assurance team and
the firm shall be independent of theparty responsible for the subject matter information (the
assurance client).In addition, an evaluation shall be made of any threats the firm has reason
tobelieve are created by interests and relationships between a member of theassurance team, the
firm, a network firm and the party responsible for thesubject matter. Direct Reporting Assurance Engagements
291.20 In a direct reporting assurance engagement, the members of the assuranceteam and the firm
shall be independent of the assurance client (the partyresponsible for the subject matter). An
evaluation shall also be made of anythreats the firm has reason to believe are created by
network firm interestsand relationships. Reports that Include a Restriction on Use and Distribution
291.21 In certain circumstances where the assurance report includes a restriction onuse and
distribution, and provided the conditions in this paragraph and inparagraph 291.22 are met, the
independence requirements in this sectionmay be modified. The modifications to the
requirements of Section 291 arepermitted if the intended users of the report (a) are
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This document was uploaded on 04/03/2014.
- Spring '14