The assurance practitioner’s objectives in a review of financial statements under this ASRE are to:

  1. Obtain limited assurance, primarily by performing enquiry and analytical procedures, about whether the financial statements as a whole are free from material misstatement, thereby enabling the assurance practitioner to express a conclusion on whether anything has come to the assurance practitioner’s attention that causes the assurance practitioner to believe that financial statements are not prepared, in all material respects, in a accordance with an applicable financial reporting framework; and
  2. Report on the financial statements as a whole and communicate, as required by this ASRE.


In all cases when limited assurance cannot be obtained and a qualified conclusion in the assurance practitioner’s report is insufficient in the circumstances, this ASRE requires that the assurance practitioner disclaim a conclusion in the report issued for the engagement or, where appropriate, withdraw from the engagement if withdrawal is possible under applicable law or regulation. (Ref. Para. A8‑A10, A121‑A122)