Introduction to asusurance engagement

1) A reduction in assurance engagement risk to an acceptably low level in the circumstances of the
engagement as a basis for a positive form of expression of the practitioners conclusion
2) Independent Financial statements audit
3) A two party relationship
4) Compilation- not part of assurance
5) Assurance engagement risk- practioner expresses an inappropriate conclusion when the subject
matter information is materially mistated
6) Substantial engagement fee
7) Substantial acquisition cost