88 paragraphs found
The extent of the subject matter does not affect whether an engagement is an assurance engagement or not. Even if the subject matter of an engagement is very specific, when the engagement contains the elements of an assurance engagement, the assurance …
The assurance practitioner may assist the engaging party and intended users in determining the procedures to be performed to ensure that the procedures are able to be performed and are likely to meet the needs of the intended users. Nevertheless, the …
If it is necessary for the assurance practitioner to perform a risk assessment, respond to assessed risks or evaluate the evidence gathered, then this indicates that the assurance practitioner is using their professional judgement to gather sufficient …
In an agreed-upon procedures engagement, as the assurance practitioner does not express a conclusion, it is the engaging party’s responsibility to determine the procedures which will provide sufficient appropriate evidence to support their own or intended …
Not all intended users may be available to agree to the terms of the engagement or the agreed-upon procedures to be performed. These intended users may still be specified in the letter of engagement where the assurance practitioner is satisfied that those …
An example of an engagement letter for an agreed-upon procedures engagement is set out in Appendix 3 . …
Planning in an agreed-upon procedures engagement is restricted by the nature, timing and extent of procedures as agreed in the terms of the engagement. Therefore, the assurance practitioner does not have the discretion to perform alternative or …
The procedures applied in an engagement to perform agreed-upon procedures may include: inspection; observation; external confirmation; re-calculation; re-performance; analytical review procedures, where those procedures are based solely on comparison …
Analytical procedures are not performed in an agreed-upon procedures engagement unless the engaging party provides an expectation of recorded amounts or ratios on which the assurance practitioner may base the analytical procedures. The engaging party’s …
Even though assurance is not provided by the assurance practitioner, the intended users are entitled to rely on the accuracy of the reported findings by virtue of the assurance practitioner’s capabilities and competence in conducting the agreed-upon …