Assurance Review Engagement Manual
Our Assurance Review Engagement Manual provides you with the current and permanent file programmes needed to undertake an assurance review engagement for a limited company in accordance with the International Standard on Review Engagements (ISRE) 2400 (Revised) and ICAEW Audit and Assurance Faculty Technical Release 09/13 (Revised).
The manual also includes:
- accounts disclosure checklists, including versions for new UK GAAP in accordance with FRS 102, including FRS 102 Section 1A
- guidance and procedures notes that set out how review engagements are conducted, including in accordance with the relevant quality control requirements
- example engagement letters, reports and supporting statements.
Our Assurance Review Engagement Manual can be browsed online or sections of content or commentary can be downloaded in Microsoft word or PDF. There is also the flexibility to ‘customise’ a download suitable for your engagement. For every new assignment, you will need to navigate to our website to obtain the most up to date version.
- Guidance notes that provide you with a background as to how to use the manual, procedures notes which provide a summary of the relevant legal and regulatory framework within which an assurance review engagement (review engagement) is undertaken and set out the firm's procedures for undertaking such an engagement, a what’s changed letter identifying all changes from the previous version of the manual and a file review checklist that will help you perform reviews of review engagements for quality management purposes.
- Example letters, including engagement letters for undertaking review engagements for limited company clients. There is also an example letter of representation.
- Example reports and supporting statements.
- Example audit exempt limited company pro-forma accounts for full FRS 102 and FRS 102 1A (both full and abridged).
- Limited company accounts disclosure checklists for audit exempt FRS 102 and FRS 102 1A.
- Limited company current assurance file documentation that covers planning, completion, detailed work programmes, a file index and lead schedules.
- Permanent file documentation that provides a structure for your permanent files and outlines the information required which is of continuing importance to a review engagement over a number of years.
- Supplementary form that provides an additional resource which may be useful for reviewing the cash flow statement.
May 2022
This major update to the methodology principally incorporates:
- Amendments as a result of the new quality management standards.
- Updating documentation for minor changes to laws and regulations, and accounting standards.
- Best practice amendments
April 2021
A number of minor changes to engagement letters, disclosure checklists, accounts and audit exemption criteria checklists have been made in relation to Brexit.
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