Nature and Scope of Engagements A01-05b

Explain moderate or negative assurance provided by a review engagement.

This may also be referred to as limited assurance. The level of assurance provided by the accountant is limited to words such as, nothing has come to his/her attention, that would indicate the financial information is not presented in accordance with GAAP. In reviews, limited procedures are performed; therefore, the accountant cannot give any positive assurances.