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ACCA Strategic Professional · Advanced Audit and Assurance (International) · Specific assignments

Darnell Co's directors ask their audit firm to assure a report on the company's greenhouse gas emissions statement. The firm is considering whether this is a valid assurance engagement under the IAASB Assurance Framework. Which of the following is NOT a required element of an assurance engagement?

Preparing the emissions statement for management is not an element of an assurance engagement. The required elements are a three-party relationship, an appropriate subject matter, suitable criteria, sufficient appropriate evidence and a written report. Preparing the statement would also create a self-review threat to independence.

  1. ASuitable criteria against which the underlying subject matter is evaluated
  2. BA three-party relationship involving the practitioner, the responsible party and the intended users
  3. CSufficient appropriate evidence to support the practitioner's conclusion
  4. DA requirement that the practitioner also prepares the emissions statement for managementCorrect

Explanation

The elements are a three-party relationship, an appropriate subject matter, suitable criteria, sufficient appropriate evidence and a written assurance report. Preparing the statement for management is not an element and would threaten the practitioner's independence, since self-review would arise.

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