Assurance of other economical information

Based on International Standards on Auditing (ISA) assurance of other economical information includes the following engagements:

  • Reviews of financial statements in accordance with ISRE 2400
  • Assurance engagements, which are neither audits nor review of historical financial information

Reviews of financial statements are required by our client when the company does not have obligatory audit and it is not required on such a level of assurance related to financial statements, which is usually expected with financial statements´audits. Generally reviews of financial statements give a lower level of assurance and also scope of the work is lower than with an audit. Especially when the company has no obligatory audit and wants to decrease the extent of audit procedures including the audit fee, it is possible to recommend performance of review of financial statements in accordance with ISRE 2400.

Sometimes the auditor can be asked for assurance, which is neither audit of financial statements nor historical financial information. In this case assurance of certain specific circumstances for third parties users – e.g. subsidiaries providers are performed by our auditors in accordance with ISAE 3000 for those assurance engagements.

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