Reasonable assurance is provided in
A) An audit engagement.
B) A compilation engagement.
C) A review engagement.
D) None of the items listed.

Question

Quizplus · Accepted Answer

Reasonable assurance is provided in an audit engagement where the auditor performs various procedures to obtain sufficient and appropriate audit evidence to express an independent opinion on the financial statements. In contrast, a compilation engagement only involves presenting the financial information in the form of financial statements without providing any assurance, and a review engagement only provides limited assurance.

Reasonable Assurance Is Provided in