Document ID: chunk:federal_register_of_legislation:F2025L00107:reg:203:p14
Version: federal_register_of_legislation:F2025L00107
Segment Type: reg
Provision Reference: reg 203 (pt 14/16)
Character Range: 681109–684272

assurance engagement in accordance with ASSA 5000, we exercise professional judgement and maintain professional scepticism throughout the engagement. We also:

      * Perform risk assessment procedures, including obtaining an understanding of internal control relevant to the engagement, to identify and assess the risks of 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.[30]

      * 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.][31]

      * […]

[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]
[1]  See ASQM 1 Quality Management for Firms That Perform Audits or Reviews of Financial Reports, or Other Assurance or Related Services Engagements.
[2]  See ASAE 3000 Assurance Engagements Other Than Audits or Reviews of Historical Financial Information.
[3] See ASQM 2 Engagement Quality Reviews.
[4]  See ASRS 4400 Agreed-Upon Procedures Engagements.
  [5] The sub-title "Reasonable Assurance Report on the Sustainability Information" is unnecessary in circumstances when the second sub-title "Report on Other Legal and Regulatory Requirements" is not applicable.
[6]  Include if the practitioner considers it necessary in the engagement circumstances – see paragraph 199.
[7]  Another appropriate heading may be used, such as "Information Other than the Sustainability Information and Reasonable Assurance Report Thereon."
[8]  A more specific description of the other information, such as "the financial statements and notes thereto and chairman's statement," may be used to identify the other information.
[9]  Include paragraph if relevant to the engagement circumstances – see paragraph 190(g).
[10]  Remove the words "but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control " if the reasonable assurance engagement includes an opinion on the effectiveness of internal control.
[11]  Include if the practitioner