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

Marlowe & Co performs a review of the interim financial information of Castell Co, for which it is also the external auditor, under ISRE 2410. Which statement correctly describes the conclusion in the review report?

The review report gives a negatively worded conclusion, stating that nothing has come to the reviewer's attention to indicate the interim information is materially misstated. This is limited assurance, lower than the positive opinion of an audit, and being the auditor does not prevent it.

  1. AA positive opinion that the interim information is true and fair
  2. BA negative form of conclusion that nothing has come to attention indicating material misstatementCorrect
  3. CNo conclusion, only factual findings of procedures
  4. DA disclaimer because the reviewer is also the auditor

Explanation

ISRE 2410 review of interim information by the entity's auditor provides limited assurance, expressed in negative form. A positive opinion is the reasonable assurance of an audit. Being the auditor does not require a disclaimer.

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