[Anonymous]

Hey all, I have been looking for a chart on this somewhere in my Becker Materials but can’t seem to find one, and would like a list/visual representation of the assurance given by various services. Can you guys help me out and make sure I have all of these correct?

Audit/Examination = Positive Assurance (opinion on financial statements)

Review = Limited/Negative Assurance (….nothing has come to our attention to warrant change…)

Compilation = NO assurance (….auditor has compiled financial statements…)

Agreed Upon Procedures = NO assurance (disclaimer of opinion)

Audits in accordance w/GAGAS = positive assurance on the compliance requirements as they relate to financial reporting (…entity complied, in all material respects…) but still NO opinion on internal control

Less than a week until AUD and want to make sure I have these nailed down. Thanks for the help!

[nolifecpa]

i have some to add to your list

NEG assurance on:

-compliance with contract as part of audit

-comfort letters

POS assurance on trust service:

-webtrust: positive assurance on whether site is electronically secured

-systrust: positive assurance on electronic system

REG-65,71,74,73,70,74,79
BEC-60's,60's,69,71,76*,78
FAR-67,66,65,79
AUD-54,60's,65,83*,69,80
*expired

DONE

[sieverd]

5280, I know you are looking for help, but that list really cleared things up for me. I got confused on that as well. I'm less than a week away from game-time as well. Hopefully all goes well so I can burn the books! Good luck on your exam as well.

REG: 80 (4/1/13)
BEC: 87 (5/29/13)
FAR: 82 (7/31/13)
AUD: 63, 69, 86 (1/3/14)

"Separation is in the preparation" - Russell Wilson

Using Becker Self Study & Ninja Audio

[Anonymous]

@sieverd No Problem! I have noticed a lot of practice questions that like to throw in incorrect “negative assurance” or “positive assurance” in an otherwise correct answer, so I think it's helpful to know them. Good luck on your test!!

[jacquevyvo]

this may be a little late for op, but hopefully this will help anyone else who is also confused with the assurance and restriction levels. i got this from one of the sims in becker. https://flic.kr/p/oYg4qM

AUD - 75 8/30/14
FAR
BEC
REG

[Author]

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