IIA-Australia Factsheet - Assurance Types

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Author	IIA-Australia
Date	2022
Topics Explored	Internal Audit
Format	Factsheet
Extract/Description	Internal auditing uses the word ‘assurance’ in its ordinary English-language sense and does not use terms like ‘reasonable assurance’, ‘limited assurance’ or ‘negative assurance. Internal auditors are always expected to have ‘sufficient, reliable, relevant, and useful information’ to support conclusions or opinions offered.
Key Points	An internal auditor is expected to form a conclusion in relation to the engagement objectives and internal audit reports. Purely negative or exception-based reporting is not encouraged.
Relevant Industries	All
Level of Assumed Knowledge	Intermediate