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ACCA Strategic Professional · Advanced Audit and Assurance (International) · Audit-related and assurance services

A practitioner concludes an engagement with the words: 'Based on our work, nothing has come to our attention that causes us to believe that the statement is not prepared, in all material respects, in accordance with the criteria.' What form of conclusion is this?

This is a negative-form conclusion giving limited assurance. It states that nothing has come to the practitioner's attention indicating non-compliance, whereas reasonable assurance is expressed positively, such as stating an opinion that the subject matter is prepared in all material respects in accordance with criteria.

  1. AA negative-form conclusion expressing limited assuranceCorrect
  2. BA positive-form conclusion expressing reasonable assurance
  3. CA disclaimer of conclusion
  4. DAn adverse conclusion

Explanation

Limited assurance conclusions are expressed in negative form, stating that nothing has come to attention indicating a problem. Reasonable assurance conclusions are positive, stating that the subject matter is in accordance with criteria in all material respects. This is neither a disclaimer nor an adverse conclusion.

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