Philippine Framework for Assurance Engagements

 Non Assurance engagement (that are not also

covered by this framewok):
- Agreed upon procedures & compilation of
financial or other information
- Preparation of tax returns
- Consulting (or advisory) engagements

 Engagements which may meet the definition of

assurance engagement but not be performed in
accordance with the Framework:
- Engagements to testify in legal proceedings
regarding accounting, auditing, taxation or
other matters
- Engagements that include professional
opinions, views or wordings from which a
user may derive some assurance, if all of
the ff apply:
a. Those opinions, views or wording
are merely incidental to the over all
engagement
b. Any written report issued is
expressly restricted for the use by
only the intended users specified in
the report
c. Under a written understanding with
the specified intended users, the
engagement is not intended to be
an assurance engagement
d. The engagement is not represented
as an assurance engagement in the
professional accountant’s report