Exam (elaborations)
ACA Assurance - Chapter 1 (Concept of and need for assurance) well answered to pass
- Course
- Institution
ACA Assurance - Chapter 1 (Concept of and need for assurance) well answered to pass
[Show more]
Content preview
ACA Assurance - Chapter 1 (Concept ofand need for assurance)
Elements of assurance engagement - correct answer ✔✔3 Party involvement - Practitioner, Intended
users, responsible party
Subject matter - financial statements
Suitable Criteria - accounting standards
Evidence - reliable
Written Report - conclusion
Levels of assurance - correct answer ✔✔Limited assurance - moderate/low (negative assurance)
Reasonable assurance - not a guarantee (positively expressed)
Assurance - correct answer ✔✔Refers to a firms satisfaction as to the reliability of an assertion
Types of assurance engagement - correct answer ✔✔Audit
Business plan/projection reviews
Fraud Investigations
Due diligence
Internal controls assessment
Environmental audits
Employee threshold - correct answer ✔✔No more than 50
Turnover threshold - correct answer ✔✔Does not exceed £10.2m
Total asset - correct answer ✔✔Does not exceed £5.1m
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Sakayobako30. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
74735 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now