When auditors are engaged in work where no assurance is provided this means;
A)An assurance is not provided as the client determines the nature,timing and extent of the evidence that is gathered and will determine their own outcome.
B)The auditors found anomalies in the financial information and no assurance will be given until further testing is conducted.
C)That the review indicates adverse finding and the auditors are not prepared to give an assurance that the information gives a true and fair view.
D)No assurance is provided as the client will determine the outcome once the auditors have gathered the data.

Question

Quizplus · Accepted Answer

When auditors are engaged in work where no assurance is provided, it means that they are not expressing any opinion or conclusion about the financial information. Instead, they are simply gathering evidence based on the client's directions and providing information for the client to use as they see fit. This is known as a non-assurance engagement. Option A correctly describes this situation. Option B describes a situation where further testing is required, and Option C describes a situation where adverse findings were identified. Option D is not accurate because the client does not determine the outcome; instead, they determine how the evidence is gathered.

When Auditors Are Engaged in Work Where No Assurance Is