(AUD) Engagement Planning

Engagement Planning

Assurance service: independent professional services that improve the quality of information, or its context for decision makers.

Attestation engagement: independence is required.

1. Examination (Audit): positive opinion, reasonable assurance

2. Review: limited/negative assurance, not aware of any material modification

3. Agreed-Upon Procedures: procedures performed and summary of findings

- Sufficiency of the procedures is solely the responsibility of the specified parties

- Report restricted to specified user only

Non-Attestation: independence is not required.

1. Compilation (SSARS): non-public company only

- presenting in the form of financial statements, information that is the representation of management without expressing any assurance on the financial statements.