The assurance report in a limited assurance engagement contains:
A)a statement that the report is in accordance with the suitable criteria.
B)a statement that nothing has come to the assurers attention which would indicate that the report is not fairly presented.
C)a summary of assurance procedures undertaken, but no assurance opinion.
D)assurance in the form of an audit opinion.

Question

Quizplus · Accepted Answer

In a limited assurance engagement, the assurance report provides a moderate level of assurance that nothing has come to the assurer's attention to suggest that the subject matter is not presented fairly. Therefore, option B is correct. Option A is incorrect as this statement is included in the introductory paragraph of an assurance report in a reasonable assurance engagement. Option C is incorrect as the assurance report in a limited assurance engagement provides a conclusion regarding whether any matters have come to the assurer's attention to indicate that the subject matter is not presented fairly. Option D is incorrect as an audit opinion provides a high level of assurance, which is not applicable to a limited assurance engagement.

The Assurance Report in a Limited Assurance Engagement Contains