The Philippine Standards on Quality Control (PSQCs) are to be applied to a. Assurance engagements only. b. Review engagements only. c. Compilation and review engagements only. d. All services that fall under the AASC's engagement standards.

Question

The Philippine Standards on Quality Control (PSQCs) are to be applied to a. Assurance engagements only. b. Review engagements only. c. Compilation and review engagements only. d. All services that fall under the AASC's engagement standards.

The Philippine Standards on Quality Control
(PSQCs) are to be applied to
a. Assurance engagements only.
b. Review engagements only.
c. Compilation and review engagements
only.
d. All services that fall under the
AASC's engagement standards.

asked Oct 31, 2021 by shubhhw

1 Answer

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There are fundamental principles that the professional accountant has to observe when performing assurance engagements. The requirement of which principle is of particular importance in an assurance engagement in ensuring that the conclusion of the professional accountant has value to the intended user? a. Integrity b. Confidentiality c. Professional competence d. Objectivity

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Which of the following is not an element of assurance engagements? a. Subject matter b. Evidence c. Engagement process d. Suitable criteria

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The following statements relate to the three parties involved in an assurance engagement. Which is correct? a. The responsible party and the intended users should always be from different entities. b. A practitioner should not accept an assurance engagement when the subject matter of the engagement requires specialized skills and knowledge beyond those ordinarily possessed by the practitioner. c. A responsible party is the person who is responsible for the subject matter or the subject matter information. d. In all assurance engagements, the responsible party is the engaging party, i.e., the party that engages the practitioner

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Last Answer : Criteria.

In an assurance engagement, this refers to the information obtained by the practitioner in arriving at the conclusions on which the conclusion is based. a. Criteria b. Assertions c. Evidence d. Generally accepted auditing standards

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Last Answer : Evidence

shubhhw · Answer 1 · 2021-10-31T18:30:46+0000

All services that fall under the
AASC's engagement standards.

The Philippine Standards on Quality Control (PSQCs) are to be applied to a. Assurance engagements only. b. Review engagements only. c. Compilation and review engagements only. d. All services that fall under the AASC's engagement standards.

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