2.1 Definition and objectives of assurance engagements

Assurance engagements refer to professional services performed by an independent auditor or assurance provider with the objective of providing assurance or a level of confidence to the intended users of a financial or non-financial information. The main objectives of assurance engagements are to:

• Enhance the quality and reliability of the information being reported
• Improve the accountability and transparency of the information
• Reduce the risk of fraud or mismanagement
• Meet legal and regulatory requirements

The different types of assurance engagements include financial statement audits, internal control audits, compliance audits, and performance audits.