What is Assurance engagement? Kinds of Assurance engagement:
Ans:Assurance engagement is an engagement performed by a practitioner to enable him to express an opinion about the measurement of subject matter against criteria.
Kinds of Assurance engagement:-
There are two types of
Assurance engagement are as follows
01. Limited assurance
engagement:-
A limited assurance engagement is an
assurance engagement in which the practitioner collects less evidence than for
a reasonable assurance engagement but sufficient for a negative form of
expression of the practitioner’s conclusion.
02. Reasonable
assurance:-
On the other hand, a reasonable assurance
engagement is an assurance engagement in which the practitioner needs to reduce
the assurance engagement risk to an acceptably low level as the basis for a
positive form of expression of the practitioner’s conclusion.