Which of the following best describes the objective of an assurance engagement

ProfessorTia ProfessorTia

The purpose of the assurance engagement is to enhance the credibility of information in order to improve the likelihood that the information will meet the needs of an intended user (C). The goal of an assurance engagement is to gather enough relevant data to draw a conclusion, with reasonable or limited assurance, about whether the audited entity has complied with the necessary legal requirements (the "criteria") in all relevant ways. A practitioner, a responsible party, and the intended recipients of the assurance report are all involved in an assurance engagement. The information that the practitioner is relying on to make a judgment belongs to the responsible party.

The individual can have more faith in the subject being assured the higher the amount of assurance offered. However, in order for an audit team leader to offer a better level of assurance, they must lower the possibility that the subject of the audit contains a major misrepresentation. Components of a guarantee engagement:

1. A three-party relationship involving the practitioner, the responsible party, and the intended users.
2. One thing that should be.
3. Suitable criteria.
4. Sufficient and precise evidence.
5. An assurance report in a form appropriate to an engagement that provides reasonable assurance or an engagement that provides limited assurance.

To know more about assurance visit the link below

brainly.ph/question/1713982

#SPJ4

These are the countries currently available for verification, with more to come!

United States

Canada

Mexico

American Samoa

Guam

Northern Mariana Islands

Moldova

Guernsey

South Africa

China

Israel

Japan

South Korea

Taiwan

Australia

New Zealand

Argentina

Brazil

Chile

Venezuela

3. Which of the following best describes the objective of an assurance engagement?a. To compare the company's information and policies to those of other entities.b. To improve the company's outcomes.c. To enhance the credibility of information in order to improve the likelihood that theinformation will meet the needs of an intended user.d. None of the above.

4. The degree of certainty that the practitioner has attained and wishes to convey is:

Get answer to your question and much more

5. What level of assurance is provided by the auditor in an audit engagement?

Get answer to your question and much more

Upload your study docs or become a

Course Hero member to access this document

End of preview. Want to read all 2 pages?

Upload your study docs or become a

Course Hero member to access this document

Tags

professional services, Independent professional services, c Assurance services