2.10 Non-assurance engagements (Agreed upon procedures engagement -ISRS 4400 and compilation assignments-ISRS 4410

In an AUPE, the assurance practitioner is engaged to perform specific procedures on financial information as agreed with the entity and to report on the results of those procedures. The assurance practitioner is not providing an opinion on the financial information as a whole, but rather is providing information that is relevant to the agreed-upon procedures. The key features of an AUPE include:

• The procedures to be performed are agreed upon between the entity and the assurance practitioner.
• The results of the procedures are reported to the entity or the specified third party.
• The assurance practitioner is not providing an opinion on the financial information as a whole, but is providing limited assurance on the procedures performed.
• The level of assurance provided in an AUPE is lower than in an audit or review engagement.

In a compilation engagement, the assurance practitioner is engaged to assist the entity in presenting financial information in accordance with a financial reporting framework. The assurance practitioner is not providing an opinion on the financial information as a whole, but is providing a compilation report that states that the financial information has been compiled in accordance with the specified financial reporting framework. The key features of a compilation engagement include:

• The financial information being presented is based on information provided by the entity.
• The assurance practitioner does not provide an opinion on the financial information being presented.
• The assurance practitioner provides a compilation report that states that the financial information has been compiled in accordance with the specified financial reporting framework.

The level of assurance provided in a compilation engagement is lower than in an audit or review engagement.