assurance team

Assurance team – meaning

Assurance team are all professionals participating in the assurance engagement and all others within a firm who can directly influence the outcome of the assurance engagement, including:

  • Those who recommend the compensation of, or who provide direct supervisory, management or other oversight of the assurance engagement partner in connection with the performance of the assurance engagement.
  • Those who provide consultation regarding technical or industry specific issues, transactions or events for the assurance engagement; and
  • Those who provide quality control for the assurance engagement;

Assurance team when it concern the audit of financial statements it also include all those within a network firm who can directly influence the outcome of the audit engagement.

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