Discussion:
In addition to auditing public companies, accountants can provide services for nonpublic companies and services that do not require an annual external audit. You will demonstrate your understanding of these additional services that can be provided.
The questions listed below are found in Chapter 20 of Principles of Auditing. Answer the questions and submit your work to the instructor as outlined below.
• Describe these three types of engagements.
• Describe the types of procedures performed for each of these three types of engagements.
• Discuss the degree of assurance provided by each type of engagement.
• Identify when each of the three types of engagements results in reports that are appropriate for general use.
1. Explain why criteria are needed for an attestation engagement.
2. Describe what makes a particular set of criteria suitable for an attestation engagement.
3. Explain how criteria are made available to users of the information.