Document ID: chunk:federal_register_of_legislation:F2025L00107:reg:203:p7
Version: federal_register_of_legislation:F2025L00107
Segment Type: reg
Provision Reference: reg 203 (pt 7/16)
Character Range: 660706–663947

material misstatements, whether due to fraud or error, at the disclosure level but not for the purpose of providing a conclusion on the effectiveness of the entity's internal control.[13]

      * Design and perform procedures responsive to assessed risks of material misstatement at the disclosures level. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Summary of the Work Performed

A limited assurance engagement involves performing procedures to obtain evidence about the Sustainability Information. The nature, timing and extent of procedures selected depend on professional judgement, including the assessed risks of material misstatement at the disclosures level, whether due to fraud or error.

In conducting our limited assurance engagement, we:

[Insert a summary of the nature and extent of procedures performed that, in the practitioner's judgement, provides additional information that may be relevant to the users' understanding of the work performed to support the practitioner's conclusion and the level of assurance obtained.][14]

      * […]

[Signature in the name of the assurance firm, the personal name of the assurance practitioner, or both, as appropriate for the particular jurisdiction]

[Practitioner's address]

[Date of the limited assurance report]

Illustration 3 – Unmodified Combined Reasonable and Limited Assurance Report on Sustainability Information for an Entity Other than a Listed Entity Prepared in Accordance with Compliance Criteria, comprising:
 1.            Reasonable Assurance Opinion on the selected disclosures, [identified by …],[15] from the Sustainability Report ("Information RA")
 2.           Limited Assurance Conclusion on the selected disclosures, [identified by …],[16] from the Sustainability Report ("Information LA")
For purposes of this illustrative assurance report, the following circumstances are assumed:
    * A reasonable assurance engagement relating to Information RA and a limited assurance engagement relating to Information LA of the Sustainability Report of ABC Company (the Company), an entity other than a listed entity, for the year ended December 31, 20X1, as required by law or regulation (the Sustainability Report).
    * The Sustainability Report represents the sustainability information reported by the Company and Information RA and Information LA represent the sustainability information subject to the assurance engagement.
    * The Sustainability Report is prepared by management of the Company in accordance with compliance criteria (XYZ Law of Jurisdiction X).
    * The Sustainability Report includes comparative information that is not referred to in the practitioner's conclusion. With respect to the comparative information: comparative Information RA was subject to a reasonable assurance engagement, and comparative Information LA was subject to a limited assurance engagement, in the prior period, and the practitioner's respective conclusions were unmodified.
    * Management of the Company is the engaging party.
    * The terms of the assurance