The use of positive assurance is appropriate in a review attestation report.

Question

Quizplus · Accepted Answer

Positive assurance is not used in a review attestation report. A review report provides limited assurance, which is weaker than positive assurance. The review report concludes whether any material modifications should be made to the financial statements for them to be in accordance with the applicable financial reporting framework. Positive assurance is used in an audit report, where auditors provide reasonable assurance that the financial statements are free from material misstatements.

The Use of Positive Assurance Is Appropriate in a Review