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

Brightwell plc is listed, and its auditor, Harcourt & Partners, has been engaged to review the half-yearly interim financial information under ISRE 2410. The audit committee asks what the review report conclusion will say. Which is correct?

Under ISRE 2410, the entity's independent auditor concludes in negative form: nothing has come to their attention suggesting the interim information is not prepared, in all material respects, in accordance with the applicable framework. It is limited assurance, not a positive opinion.

  1. AA positive opinion that the interim information is true and fair
  2. BA statement that nothing has come to the auditor's attention that causes them to believe the interim information is not prepared, in all material respects, in accordance with the applicable frameworkCorrect
  3. CA confirmation that internal controls are effective
  4. DA guarantee that the year-end audit will have no adjustments

Explanation

ISRE 2410 covers review of interim financial information by the entity's independent auditor and results in a negative-form conclusion. It is not an opinion and does not report on controls. The key distractor, a positive opinion, belongs to an audit.

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