Economics · Auditing

An auditor is evaluating whether a specific engagement can be classified as an assurance engagement. According to the International Framework for Assurance Engagements, which of the following elements is NOT one of the five core elements required to form an assurance engagement?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1A three-party relationship involving a practitioner, a responsible party, and intended users
2An appropriate subject matter
3The preliminary determination of materiality thresholds✓
4Suitable criteria against which the subject matter is evaluated

Correct answer

The preliminary determination of materiality thresholds

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