Assurance standards can be applied to which of the following types of engagement?
A)Attestation engagements
B)Direct reporting engagements
C)Both direct reporting and attestation engagements
D)Tax planning and consulting engagements

Question

Quizplus · Accepted Answer

Assurance standards are applicable to both attestation engagements and direct reporting engagements. In attestation engagements, a practitioner is engaged to issue a report on subject matter, or an assertion about subject matter, that is the responsibility of another party. Direct reporting engagements involve the practitioner directly measuring or evaluating underlying subject matter against criteria and presenting a conclusion, without the need for an assertion by another party. Tax planning and consulting engagements do not typically fall under assurance standards.

Assurance Standards Can Be Applied to Which of the Following