What is Examination engagement?
In short
An examination is an attestation engagement in which the practitioner obtains reasonable assurance and expresses an opinion on whether a subject matter, or an assertion about it, is in accordance with suitable criteria.
Key takeaways
- It gives the same level of assurance as an audit, for subject matter other than historical financial statements.
- Examples include System and Organization Controls (SOC) reports and examinations of prospective financial statements.
- A review engagement under the attestation standards provides limited assurance instead.
Where it's tested
AUD: Attestation & System and Organization Controls (SOC) Engagements — study notes, a five-minute revision sheet and practice questions.
Practise: 3 questions
Question 1 of 3 · 0 answered
In an examination engagement under the attestation standards, the practitioner: