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Chapter 15 4
Limited assurance
The objective of a limited assurance engagement is to obtain sufficient
appropriate evidence to be satisfied that the subject matter appears plausible in
the circumstances.
The accountant expresses their conclusion in a negative form, stating that their
procedures have not identified any material misstatement of the subject matter,
e.g. a review engagement.
The procedures for a limited assurance engagement are therefore less
comprehensive than for a reasonable assurance engagement.
No assurance (agreed upon procedures)
The objective of an agreed upon procedures engagement is to perform the
procedures requested by the client and report the findings on a factual basis.
The client forms their own conclusion based on the results of the work.
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