AUDIT AND ASSSURANCE COURSE

1. What is audit and assurance

Is an engagement in which a practitioner expresses conclusion designed to enhance the
degree of confidence of the intended user about the outcome of the valuation against
criteria.
2. Essential elements in a statutory engagement
 The parties involved (the practioner ,intended user n the responsible psrty)
 Subject matter
 Suitable criteria to judge reliability and accuracy
 Sufficient evidence to substantiate an opinion
 Written report in appropriate form
3. Nature and types of engagement services
 Reasonable
 Limited

Reasonable (auditor gather appropriate evidence ,concludes the subject matter conforms to the
criteria ,positively worded assurance)

Limited (gathers appropriate evidence ,subject matter in relationship with criteria is plausible in the
circumstances ,negatively worded)