The objective of a limited assurance engagement is a reduction in assurance engagement risk to a level that is
acceptable in the circumstances of the engagement, but where that risk is greater than for a reasonable
Assurance engagement, as the basis for a negative form of expression of the practitioner’s conclusion.
In a limited assurance engagement, the practitioner:
gathers sufficient appropriate evidence,
ensures that the subject matter conforms with the relevant criteria,
to ensure that level of risk that is acceptable in the circumstances of the engagement, (but where the risk is higher than for a reasonable assurance engagement) and expresses the opinion in a negative form.
This form of assurance engagement gives a level of limited assurance that is proportional to the extent of the given circumstances. A common example of a limited assurance engagement is a review engagement.