Limited assurance is provided in
A) An audit engagement.
B) A compilation engagement.
C) A review engagement.
D) None of the above.

Question

Quizplus · Accepted Answer

Limited assurance is only provided in a review engagement. In a review, the CPA provides a moderate level of assurance on the financial statements, which is less than the high level of assurance provided in an audit engagement. In a compilation engagement, no assurance is provided, and in the absence of an engagement, there is no assurance provided as well.

Limited Assurance Is Provided in