Assurance engagements are those in which the practitioner provides assurance that a conclusion

is correct or that it is not based on an incorrect or inaccurate premise. Non-assurance

engagements are those in which the practitioner does not provide assurance that a conclusion is
correct or that it is not based on an incorrect or inaccurate premise.

1. An Assurance Agreement's Components For starters, there is a three-way relationship

between a practitioner, a client, and the intended users. The second category includes the
subject matter for which the intended users require assurance, as well as the criteria that
the practitioner will use to evaluate the subject matter. Finally, the gathering of sufficient
appropriate evidence on which the practitioner will base his or her opinion on the subject
is completed. The practitioner's expression of an opinion in the form of a written report.
2. The Board of Accountancy has approved a revised code of ethics for accountants in the
Philippines. The code includes eight fundamental principles that CPAs are expected to
follow while performing their duties, such as integrity, objectivity, professional
competence and due care, confidentiality, and professional behavior. Because CPAs may
encounter situations that are inconsistent with these fundamental principles, the code will
serve as inspiration for them when making decisions or taking actions.
3. The process of training and developing professional knowledge and skills through
independent, participation-based, or interactive learning is the goal of continuous
professional development. Professionals can improve their capabilities with the help of
certified learning in this type of learning.
4. If a candidate fails the CPALE twice, he or she must submit evidence to the Board that he
or she enrolled in and completed at least twenty-four (24) units of subject matter covered
in the licensure examination.
5. As a professional accountant in public practice, I must determine whether accepting a
new client relationship would jeopardize compliance with the fundamental principles.
This means that when a firm is approached to take on a new client, it should investigate
the potential client, its owners, and business activities to determine whether there are any
questions about the potential client's integrity that pose an unacceptable risk. We will
reduce potential threats by enacting this act.
6. The obligation of a Certified Public Accountant is to be forthright and honest in all of my
professional and business relationships. I will not allow others' bias, conflict of interest,
or undue influence to influence my professional or business judgment. Shall act with care
and in accordance with all applicable technical and professional standards.

7. I believe Angel, Belo, and Caloy did not violate the law because being a CPA requires
them to work in small or large public accounting firms as long as they carry out their
duties in accordance with their profession
8. A bachelor's degree; 24 semester units of accounting-related subjects; 24 semester units
of business-related subjects; and 150 semester units (or 225 quarter units) of education
 are all required. It is necessary to pass the Uniform CPA Exam, the Professional Ethics
Exam for CPAs, and have one year of general accounting experience supervised by a
CPA with an active license.
9. Client retention factors include Client demand for specialized services that the current
audit firm is unable or unwilling to provide, and Factors to consider in recurring audits
Any evidence that the client misunderstands the audit's objective and scope, such as a
recent change in senior management, the board of directors, or ownership, followed by a
significant change in the nature or size of the client's business, and finally legislative
requirements.
10. The obligation of a Certified Public Accountant is to be forthright and honest in all of my
professional and business relationships. I will not allow others' bias, conflict of interest,
or undue influence to influence my professional or business judgment. Shall act with care
and in accordance with all applicable technical and professional standards.