Introduction to Assurance Engagements

What does AASC mean?

• Auditing and Accounting Standards Council

• Auditing and Assurance Security Council

• Auditing and Assurance Standards Council

An assurance engagement involves how many parties?

• 1

• 2

• 3

• 4

Only an auditor can be considered as a "practitioner" in an assurance engagement.

• True

• False

_______________ is/are person, persons or class of persons for whom the practitioner prepares the assurance report.

• Responsible party

• Practitioner

• Auditor

• Intended user

_____________________ are the benchmarks used to evaluate or measure the subject matter including, where relevant, benchmarks for presentation and disclosure.

• Subject matter information

• Suitable criteria

• PSAs

• PFRS

Which is not a characteristic of a suitable criteria?

• Completeness

• Consistency

• Reliability

• Neutrality

(a)   is the measure of the quantity of evidence.