To which type of assurance engagement does the umbrella standard ASAE 3000 (ISAE 3000) 'Assurance Engagements other than Audits and Reviews of Historical Financial Information' not apply?
A)A performance audit on a government department.
B)A review of a half-yearly financial report.
C)A limited assurance report on the effectiveness of internal control.
D)A limited assurance engagement on prospective financial information.

Question

Quizplus · Accepted Answer

ASAE 3000 (ISAE 3000) specifically applies to assurance engagements other than audits and reviews of historical financial information, which are covered by other standards. A review of a half-yearly financial report falls under the category of reviews of historical financial information, hence it does not fall under ASAE 3000.

To Which Type of Assurance Engagement Does the Umbrella Standard