One of the four types of professional engagements is a financial audit. A financial audit is your basic audit that is concerned with providing reasonable assurance about whether or not financial statements are fairly presented in all material aspects in conformity with generally accepted accounting principles. These types of audits must also comply with the AICPA's generally accepted auditing standards for fieldwork and reporting as well as the GAS.
A second type of professional engagement is an attestation engagement. Attestation engagements a report on the results of an examination, review, or performance of agreed on procedures on a subject or an assertion about a subject matter.
They can cover broad ranges of financial and nonfinancial objectives, and may be a part of an audit or other engagement.
Another type of engagement is a performance audit. This is an objective and and systematic examination of evidence to provide an independent assessment of the performance and management of a program against objective criteria. These are meant to improve operations and decision making.
One of the four types of professional engagements is a financial audit. A financial audit is your basic audit that is concerned with providing reasonable assurance about whether or not financial statements are fairly presented in all material aspects in conformity with generally accepted accounting principles. These types of audits must also comply with the AICPA's generally accepted auditing standards for fieldwork and reporting as well as the GAS.
ReplyDeleteA second type of professional engagement is an attestation engagement. Attestation engagements a report on the results of an examination, review, or performance of agreed on procedures on a subject or an assertion about a subject matter.
ReplyDeleteThey can cover broad ranges of financial and nonfinancial objectives, and may be a part of an audit or other engagement.
Another type of engagement is a performance audit. This is an objective and and systematic examination of evidence to provide an independent assessment of the performance and management of a program against objective criteria. These are meant to improve operations and decision making.
ReplyDelete