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Types of engagements: nature, scope and objectives

AUD Chapter 4 · Area I · Blueprint I.C

Every AUD question sits inside one type of engagement. If you can name the engagement, you already know the level of assurance, the standards that apply and what the report can say. This chapter is the map for the rest of the section.

In this chapter

1. The assurance ladder
2. Who writes the rules
3. How to read the standards: must, should and may
4. An audit from start to finish
5. Audits of financial statements
6. Government audits: the Yellow Book and the single audit
7. Attestation engagements
8. SSARS: preparation, compilation and review
9. One table to remember

This chapter has 9 lessons, 50 practice MCQs with explanations and 10 simulations, plus flashcards and a recall sheet.

What this chapter covers

• Audits of issuers and nonissuers
• integrated audits
• Yellow Book and single audits
• attestation, review, compilation and preparation engagements

Chapter 3: Professional skepticism and professional judgment · Chapter 5: Accepting the engagement and the engagement letter