ACCA AA · Chapter 1 · Question 1 of 8
Which of the following is NOT one of the elements of an assurance engagement?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: A) An audit committee that oversees the practitioner's work
Explanation
An assurance engagement has five elements: a three-party relationship, an appropriate subject matter, suitable criteria, sufficient appropriate evidence and a written assurance report. An audit committee is a corporate governance mechanism within the client; many assurance engagements are performed for entities that have no audit committee at all.
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