Introduction to Auditing and Other Assurance Services

Question 1

Enumeration: Five Essential Elements of Assurance Engagement

Answer 1

1. Three party relationships
2. Appropriate subject matter
3. Suitable criteria
4. Sufficient and appropriate evidence
5. Written assurance report

Question 2

Enumeration: Three party relationship

Answer 2

Practitioner, responsible party, intended user

Question 3

Enumeration: Characteristics of a Criteria

Answer 3

Relevant, understandable, neutral, complete, reliable

Question 4

Enumeration: Composition of COA

Answer 4

Chairman and 2 commissioners (Commission Proper)

Question 5

Identification: Term of COA

Answer 5

7 years