What constitutes the subject matter in the assurance engagement described? A) The practitioner's audit plan for the engagement. B) The relevant accounting standards used for prepar... What constitutes the subject matter in the assurance engagement described? A) The practitioner's audit plan for the engagement. B) The relevant accounting standards used for preparation. C) The most up-to-date financial statements of Company X. D) The agreement between the practitioner and intended user.
Understand the Problem
The question is asking for clarification on what defines the subject matter in an assurance engagement, and four options are provided to choose from. The objective is to identify which of these options best represents the core subject matter being assessed in such an engagement.
Answer
The most up-to-date financial statements of Company X.
The correct answer is C) The most up-to-date financial statements of Company X.
Answer for screen readers
The correct answer is C) The most up-to-date financial statements of Company X.
More Information
In assurance engagements, the subject matter refers to the data, process, or documents evaluated by the practitioner, such as financial statements in this context.
Tips
A common mistake is confusing the subject matter with criteria or agreements. The subject matter is what is being evaluated.
Sources
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