Accounting and Review Services

Question 1

Assurance engagement

Answer 1

an engagement in which an accountant issues a report designed to enhance the degree of confidence of third parties and management about the outcome of an evaluation or measurement of financial statements against an applicable financial reporting framework.

Question 2

Attest engagement

Answer 2

Defined in The Code of Professional Conduct: an engagement performed by public accountants that requires independence

Defined in attest standards: an engagement in which the public accountants issue an examination, a review, or an agreed-upon procedure report on subject matter or on an assertion about subject matter that is the responsibility of another party.