Question
What type of attestation engagements (examination, review, and agreed-upon procedures) thetax return preparation, the annual financial statement audit, and preferential vote system* are? Examination engagement.
What type of attestation engagements (examination, review, and agreed-upon procedures) thetax return preparation, the annual financial statement audit, and "preferential vote" system* are?
Examination engagement. An attestation engagement in which the practitioner obtains reasonable assurance by obtaining sufficient appropriate evidence about the measurement or evaluation of subject matter against criteria in order to be able to draw reasonable conclusions on which to base the practitioner's opinion about whether the subject matter is in accordance with (or based on) the criteria or the assertion is fairly stated, in all material respects.
Review engagement. An attestation engagement in which the practitioner obtains limited assurance by obtaining sufficient appropriate review evidence about the measurement or evaluation of subject matter against criteria in order to express a conclusion about whether any material modification should be made to the subject matter in order for it be in accordance with (or based on) the criteria or to the assertion in order for it to be fairly stated.
Agreed-upon procedures engagement. An attestation engagement in which a practitioner performs specific procedures on subject matter or an assertion and reports the findings without providing an opinion or a conclusion on it. The parties to the engagement (specified party), as defined later in this paragraph, agree upon and are responsible for the sufficiency of the procedures for their purposes.
*"preferential vote" system: The academy first used the preferential voting system from 1934 to 1945 (and most of those years had 10 nominees for picture). Also called instant-runoff voting, it's an electoral system used around the world including cities like San Francisco and Minneapolis and in Maine congressional, gubernatorial and state legislature races for elections with more than two candidates
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