The basic levels of assurance are as follows except:
A) audit or examination-level assurance.
B) complete assurance.
C) review-level assurance.
D) agreed-upon assurance.
E) no assurance.

Question

Quizplus · Accepted Answer

Complete assurance is not a recognized level of assurance in the context of audits or financial reviews. Assurance services typically include audit or examination-level assurance, review-level assurance, agreed-upon procedures assurance, and situations where no assurance is provided. Complete assurance is not feasible because auditors cannot guarantee that all material misstatements will be detected due to the inherent limitations of an audit.

The Basic Levels of Assurance Are as Follows Except