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Assurance Hand Note
Professional Stage-Knowledge Level By: Shafique Ahmed-Sr. Officer (Internal Audit-BSRM)


CA in Bangladesh


Assurance Hand Note
Professional Stage-Knowledge Level By: Shafique Ahmed-Sr. Officer (Internal Audit-BSRM) CONTENTS OF ASSURANCE 01.
1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.08 1.09 1.10 1.11 1.12

Preliminary of Assurance:
Assurance Engagement: Key elements of an assurance engagement: Levels of assurance Objective of an Audit: True & Fair Why is assurance important? Why can assurance never be absolute? Professional ethics: Basic principle governing of an audit: Threats and safeguards: Suggestion to improve or safeguard against threat: ICAB Code

2.01 2.02 2.03 2.04 2.05 2.06
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A written report in appropriate form Assurance reports are provided to the intended users in a written form and contain certain specified information so that the user ensures that key information is being given and that the assurance given is clear.

2) 3) 4) 5)


Levels of assurance
a) b) Reasonable assurance engagement that is “A high, but not absolute level of assurance” ensures to obtain sufficient and appropriate evidence. Limited assurance engagement that sufficiency and appropriateness to obtain evidence is lower level.


Objective of an Audit:
The objective of an audit of financial statements is to enable the auditor to express an opinion whether the financial statements are prepared, in all material respects, in accordance with an applicable financial reporting framework.


True & Fair
True: information is accurate and conforms with reality, not false and conforms with required standards and law. The accounts are correctly take out from the books and records. Fair: information is free from unfairness & bias with compliance expected standards and rules. The accounts should return the business matter of the company 's underlying transactions.


Why is assurance important?
a) b) c) d) e) Independent professional verification given to the users. Enhance confidence to the stakeholder Enhances the credibility of the financial information. Help to prevent errors or frauds and reduce the risk of management bias. Where problems exist
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