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ACCA Strategic Professional · Advanced Audit and Assurance (International) · Developments in sustainability assurance

Marlow LLP is asked to provide assurance on Tavish Group's sustainability information. Before accepting, the engagement partner assesses whether the engagement is suitable. Which matter is most relevant to deciding if the preconditions for an assurance engagement under ISSA 5000 are present?

The key precondition is that the criteria are suitable and available to intended users and the subject matter is appropriate for assurance, together with access to sufficient evidence. Past audit opinions, relative fee levels or monetary measurement do not determine whether an assurance engagement can be accepted.

  1. AWhether the criteria to be applied are suitable and available to the intended users, and the underlying subject matter is appropriate.Correct
  2. BWhether the entity has previously received an unmodified financial statement audit opinion.
  3. CWhether the engagement fee exceeds the fee for the financial statement audit.
  4. DWhether the sustainability information is expressed only in monetary units.

Explanation

Acceptance depends on preconditions such as an appropriate subject matter, suitable criteria available to users, and access to evidence. A prior audit opinion, fee size or monetary measurement are not preconditions, and sustainability information is often non-monetary.

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