The nine stages of an assurance engagement

• Stage 1: What is assurance?
  Gives an overview of what assurance is, and the possible triggers that should lead an individual or organisation to consider whether more assurance is needed.
• Stage 2: Define the problem
  A discussion on diagnosing the nature of the problem, and identifying exactly where increased credibility could add value.
• Stage 3: Possible solutions
  Reviews solutions that would lead to increased credibility, both in the form of internal and external assurance services and of other ways to gain comfort over information.
• Stage 4: Assurance decision
  Reviews in more detail the various different kinds of professional assurance service that can be obtained to build credibility.
• Stage 5: What is feasible?
  Discusses the practical questions that need to be answered to determine the potential scope of an assurance engagement.
• Stage 6: Costs and benefits
  Reviews the costs and benefits of different approaches to gaining or providing assurance.
• Stage 7: Engagement letter
  Sets out what should be expected from an engagement letter which forms the contractual basis for an external assurance engagement.
• Stage 8: Fieldwork and analysis
  Discusses the practicalities of the fieldwork and analysis undertaken to generate the substantive evidence that is necessary for a reliable, high quality assurance engagement.
• Stage 9: Reporting
  Discusses the nature and contents of an assurance report, and any other forms of reporting such as a management letter provided at the end of the engagement.

Please note: To be compliant with ISAE 3000 (Revised) all reports must cover a number of basic elements prescribed by the standard.

• See the full list of elements

• TECH AAF 0120 assurance reports on internal controls of service organisations
• AAF 0207 A Framework for Assurance Reports on Third Party Operations