Define: Assurance Engagement

How is Assurance Engagement defined in a legal contract?

• Assurance Engagement means a process that follows guidelines set out within a professional handbook, with the purpose of including specified auditing procedures. Seen in 42 SEC filings
• Assurance Engagement means a procedure where a professional expresses a conclusion designed to increase the confidence of users other than the responsible party about the outcome of a subject matter's evaluation or measurement against defined criteria. Seen in 20 SEC filings
• Assurance Engagement means executing an assurance procedure and issuing a report in line with the Standards of Professional Practice, or an assurance procedure or a report that appears to comply with such standards. Seen in 5 SEC filings
• Assurance Engagement means a session in which evidence is gathered by a professional to express a conclusion that's designed to improve the confidence of users apart from the responsible party regarding the information about the subject matter. Seen in 4 SEC filings
• Assurance Engagement means in the context of certification mechanism, it is an assurance report that supports a certification decision. Seen in 4 SEC filings
• Assurance Engagement means a process during which a professional gathers evidence and expresses a conclusion based on said evidence, with the goal to enhance the confidence of intended users in relation to the measurement or evaluation of a subject matter against a defined criteria. Seen in 3 SEC filings

Note: The National Credit Act-based definition is omitted due to location and organizational specificity.

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for 'Definitions of assurance engagement' yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

• Assurance Engagement means following established professional guidelines to perform specified auditing procedures.

Relevant Contract Types

• Audit Services Contract
• Audit Engagement Letter
• Service Agreement

Relevant Circumstances

• A company hires an external auditor to perform an audit
• An agreement is established between a company and their internal auditors
• A service agreement that involves testing, evaluation or verification aspects

Relevant Sectors

• Accounting
• Finance
• Information Technology

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Genie Definition 2

• Assurance Engagement means a professional evaluation to enhance user confidence in a subject's outcome against set criteria.

Relevant Contract Types

• Quality Assurance Agreement
• Service Level Agreement
• Consulting Agreement

Relevant Circumstances

• A company is requiring quality assurance testing of a product or service
• An agreement is established to set the standards or benchmarks of a service
• A consultation firm is hired to provide expert advice and evaluation

Relevant Sectors

• Manufacturing
• Construction
• Consulting Services

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