This document discusses assurance engagements, which are independent professional services that improve information quality. There are three main parties in an assurance engagement: the practitioner, responsible party, and intended users. An assurance engagement requires an appropriate subject matter, suitable criteria to measure the subject matter, evidence, and an opinion from the practitioner. Assurance engagements can provide either reasonable or limited assurance and have different procedures, time commitments, and expressions of opinions. Examples of assurance and non-assurance services are also provided.

1. ASSURANCE ENGAGEMENT
M Ehtisham Jadoon

2. ASSURANCE ENGAGEMENT
 Independent Professional Services that
improve information quality or its context
 To warrantee something

4. ELEMENTS OF ASSURANCE ENGAGEMENT
 A three party relationship
Practitioner, responsible party and
intended users
 An appropriate subject matter
 Suitable criteria
 Evidence
 Opinion

5. TYPES OF ASSURANCE ENGAGEMENT

6. TYPES OF ASSURANCE ENGAGEMENT
REASONABLE ASSURANCE LIMITED ASSURANCE
 Time
 Data
 Procedures
 Confidence
 Negative Expression
 Time
 Data
 Procedures
 Confidence
 Positive Expression

7. EXAMPLES
Assurance Services Non Assurance
Services
Statutory Audit
Internal Audit
Bookkeeping and
Accounting
Information System
Security Review
Tax Services
Customer Satisfaction
survey
Certain Management
Consultancy
Business risk
assessment
Other Management
Consultancy
Accounts Receivable

8. Relevance
Completeness
Reliability
Neutrality; free from bias
Understandability
CHARACTERISTICS OF SUITABLE CRITERIA

9. ASSURANCE ENGAGEMENT EVIDENCE
 Sufficiency is a
measure of quantity of
evidence.
 Appropriateness is a
measure of the quality
of evidence; that is its
relevance and
reliability.

10. ASSURANCE ENGAGEMENT OPINION
POSITIVE (UNQUALIFIED OPINION) NEGATIVE (QUALIFIED OPINION)
+ive Expression
“In our opinion
every thing is true and
fair, based on XYZ criteria.”
-ive Expression
“we didn’t find
anything wrong, based on
XYZ criteria.”
+ive Expression
“In our opinion
every thing is not true
and fair, based on XYZ
criteria.”
-ive Expression
“figures don't reflect
true and fair picture”

11. ASSURANCE ENGAGEMENT RISKS
 Assurance engagement risk is the risk
that the practitioner expresses an
inappropriate conclusion when the
subject matter information is materially
misstated
Inherent Risks
Control Risks
Detection Risks

12. Thank You!
Any Questions!