Review engagements provide a moderate level of assurance.

Question

Quizplus · Accepted Answer

Review engagements are designed to provide a moderate level of assurance, which is less than the level of assurance provided by an audit but more than the level provided by a compilation engagement. Review engagements involve performing analytical procedures, making inquiries, and evaluating the results to obtain limited assurance that the financial statements are free from material misstatements.

Review Engagements Provide a Moderate Level of Assurance