Question

Which of the following is not one of the types of engagements and related forms of conclusions that are defined by the attestation standards?

1) Review engagement
2) Compilation engagement
3) Agreed-upon procedures engagement
4) Audit engagement

Answer 1

The answer is 4) Audit engagement. The attestation standards define three types of engagements: review engagements, compilation engagements, and agreed-upon procedures engagements. An audit engagement is a higher level of assurance engagement where the auditor provides an opinion on the fairness of the financial statements.

Step-by-step explanation:

The answer is 4) Audit engagement. The attestation standards define three types of engagements and related forms of conclusions: review engagements, compilation engagements, and agreed-upon procedures engagements. These engagements are used by auditors to provide various levels of assurance or objective examination of subject matter. An audit engagement is a higher level of assurance engagement where the auditor provides an opinion on the fairness of the financial statements.