- 15 Marks
AAA – L3 – Q48 – Assurance services
Discuss the statement that assurance work offers audit firms less work, lower risk, and lower assurance compared to standard audits.
Question
The growth in assurance-type work provides a great money spinning opportunity for audit firms to provide a lower level of assurance, involving less work and reduced engagement risks, compared to the standard audit.
Required:
Discuss this statement.
Find Related Questions by Tags, levels, etc.
- Tags: Assurance engagements, Assurance levels, Audit comparison, Fee income, Risk Assessment
- Level: Level 3
- Topic: Assurance Services
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