AUDITING
INTERNATIONAL FRAMEWORK FOR
ASSURANCE ENGAGEMENTS
Lecture # 3
Introduction
This Framework deals with assurance engagements performed by practitioners. It provides
a frame of reference for practitioners and others involved with assurance engagements, such
as those engaging a practitioner (the “engaging party”).
Definition and Objective of an Assurance Engagement
Definition:
Assurance engagement means an engagement in which a practitioner expresses a
conclusion designed to enhance the degree of confidence of the intended users other
than the responsible party about the outcome of the evaluation or measurement of a subject
matter against criteria.
Objective:
There are two types of assurance engagement a practitioner is permitted to perform: a
reasonable assurance engagement and a limited assurance engagement.
The objective of a reasonable assurance engagement is a reduction in assurance
engagement risk to an acceptably low level in the circumstances of the engagement as the
basis for a positive form of expression of the practitioner’s conclusion.
