Types of Assurance Engagement

ByJohn Smith 19/05/201915/05/2020

What is assurance & Types of Assurance Engagement What is Assurance Engagement: Assurance Engagement Definition: Any assignment/engagement which has five elements(Below) becomes an assurance engagement Five Elements of an Assurance Engagement An assurance engagement will require a three-party relationship comprising: a) The intended user who is the person who requires the assurance report (Share Holders,…

Audit and Assurance AA

What is Audit and Inherent Limitation of Audit

ByJohn Smith 16/05/201931/10/2019

What is Audit and Inherent Limitation of Audit Audit: The practitioner examines the subject matter made available by the responsible party, matches it to the suitable criteria using evidence and reports to the intended users. (Audit also have inherent limitation) see below. OR An audit is an Independent Examination of Financial Statements. Background: Company is…

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