14 paragraphs found
The description of the nature of a review engagement in the assurance practitioner’s report explains the scope and limitations of the engagement undertaken for the benefit of the readers of the report. This explanation clarifies, for avoidance of doubt, …
… Issued by the International Auditing and Assurance Standards Board. …
Standard on Assurance Engagements ASAE 3000 , Assurance Engagements Other than Audits or Reviews of Historical Financial Information …
Standard on Quality Control ASQC 1 , Quality Control for Firms that Perform Audits and Reviews of Financial Reports and Other Financial Information, and Other Assurance Engagements , as …
Reviews may be performed in a variety of circumstances. For example, they may be required for entities that are exempt from requirements specified in law or regulation for mandatory audit. Reviews may also be requested on a voluntary basis, such as in …
See ASA 600, Special Considerations―Audits of a Group Financial Report ( Including the Work of Component Auditors ), paragraph A52 …
It may be unlikely that there is a rational purpose for the engagement if, for example: There is a significant limitation on the scope of the assurance practitioner’s work; The assurance practitioner suspects the engaging party intends to associate the …
The agreed terms of engagement shall be recorded in an engagement letter or other suitable form of written agreement, and shall include: (Ref: Para. A52–A54 , A56 ) The intended use and distribution of the financial statements, and any restrictions on use …
When the assurance practitioner’s preliminary understanding of the engagement circumstances indicates that accepting a review engagement would not be appropriate, the assurance practitioner may consider recommending that another type of engagement be …
ASQC 1 contains requirements which are at least as demanding as its international equivalent, ISQC 1 Quality Control for Firms that Perform Audits and Reviews of Financial Statements, and Other Assurance and Related Services Engagements , [*] as it …