The flexibility of non-audit assurance reporting need not prevent users from gaining a clear picture of the subject matter, says John Ward
The content of an assurance report can be readily compared with that of an audit report because both are rooted in the same International Framework for Assurance Engagements (which is included in the 2015 Handbook of International Quality Control, Auditing, Review, Other Assurance and Related Services Pronouncements of the International Federation of Accountants at tinyurl.com/IFAC-Handbook15).
However, audit reporting is less flexible than assurance reporting under ISAE 3000 (Revised) Assurance Engagements Other than Audits or Reviews of Historical Financial Information (tinyurl.com/IFAC-ISAE3000), which provides all the reporting guidance for such reports. The main flexibilities of assurance reporting under ISAE 3000 are:
- minimum content: while there is a defined minimum content neither the order of the content or any headings are prescribed;
- long-form: it is allowable to expand thecontent to include additional information relevant to the engagement; and
- reasonable and limited assurance: a single report can combine both reasonable and limited assurance conclusions.
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