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1043 Assurance Skills and Techniques
Sep-2015

Overview

This section introduces the concept of assurance skills and techniques and how their application is necessary in planning and performing an engagement.

CPA Canada Assurance Standards

Office

Annual Audit

Performance Audit, Special Examination, and Other Assurance Engagements

Characteristics of the Engagement Partner

CSAE 3001.35 The engagement partner shall:

(b) Have competence in assurance skills and techniques developed through extensive training and practical application; and (Ref: Para. A59)

CSAE 3001.43 The practitioner shall apply assurance skills and techniques as part of an iterative, systematic engagement process.

Assurance Skills and Techniques (Ref: Para. 14(b))

CSAE 3001.A11 Assurance skills and techniques include:

  • Application of professional skepticism and professional judgment;
  • Planning and performing an assurance engagement, including obtaining and evaluating evidence;
  • Understanding information systems and the role and limitations of internal control;
  • Linking the consideration of significance and engagement risks to the nature, timing and extent of procedures;
  • Applying procedures as appropriate to the engagement (which may include inquiry, inspection, recalculation, reperformance, observation, confirmation, and analytical procedures); and
  • Systematic documentation practices and assurance report-writing skills.

OAG Guidance

The assurance skills and techniques demonstrated by an auditor are distinct from the auditor’s expertise in the underlying subject matter of any particular assurance engagement, or its measurement or evaluation. Assurance skills and techniques include those of planning, evidence gathering, evidence evaluation, communication, and reporting.

Assurance skills and techniques are separate from any areas of expertise such as forensic auditing and are normally acquired through training and practical application. They are demonstrated through an iterative and systematic process on an engagement.

Related Sections

OAG Audit 1041 Applying professional skepticism
OAG Audit 1042 Applying professional judgment