A comprehensive list of standards and guidance covering external assurance engagements. Find out which standards apply for engagements by subject area, as well as information on individual standards and the practical application of guidance to assurance engagements.
An appropriate subject matter is one of the five elements of an assurance engagement required by ISAE 3000. This guidance looks at the questions practitioners should ask to identify which aspects of a subject matter to focus on in an engagement.
Guidance to assist accountants in managing their risk and liability when undertaking assurance engagements.
Often the second stage of an assurance engagement is a discussion on diagnosing the nature of the problem, and identifying exactly where increased credibility could add value.
The problem has been defined and (a) solution(s) suggested. At this stage the person responsible for the information should have all the information they need to make a good assurance decision.
After the engagement letter has been signed, the next stage of any assurance engagement is to discuss the practicalities of the fieldwork to be undertaken. This analysis will generate the substantive evidence that is necessary for a reliable, high quality assurance engagement.
When an assurance engagement has been scoped out and both parties are ready to go ahead, an engagement letter is drawn up.
A report from the Financial Services Faculty on IFRS 9
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