Assurance Review Engagement Manual
Our Assurance Review Engagement Manual provides you with the current and permanent file programmes needed to undertake an assurance review assignment for an entity.
The manual also includes:
- guidance and procedures notes that summarise the relevant legal and regulatory framework within which a review engagement is undertaken;
- accounts disclosure checklists covering the requirements of FRS 102 and FRS 102 Section 1A; and
- a file review checklist.
Our Assurance Review Engagement Manual can be browsed online or sections of content or commentary can be downloaded in Microsoft Word or PDF. There is also the flexibility to ‘customise’ a download suitable for your engagement. For every new assignment, you will need to navigate to our website to obtain the most up to date version.
- Guidance notes that provide you with essential background knowledge on the key aspects and the relevant legal framework of review engagements.
- Example engagement letters for review engagements, accounting and taxation services. There is also an example letter of representation.
- Example assurance reports, along with a statement of director’s responsibilities and director’s balance sheet statement.
- Example pro-forma accounts.
- Accounts disclosure checklists for full FRS 102 and FRS 102 Section 1A.
- Permanent file documentation that provides a structure for your permanent files and outlines the information required which is of continuing importance to an assurance review engagement over a number of years.
- Current file documentation provides you with the planning, completion and detailed work programmes needed to undertake an assurance review engagement. Lead schedules and a current file index are also included.
October 2023
The principal technical changes in this update include:
- The reconfiguring of the guidance notes.
Exciting new feature
We have also developed tailoring and customisation tools within the Assurance Review Engagement Manual to help you filter out the irrelevant parts of the Accounts disclosure checklists through a series of questions. These are available in the 'Customise' screen within the menu on the right.
By selecting 'Yes' to the question 'Would you like to tailor your accounts disclosure checklist through a series of questions?', you will then be asked a series of questions. Answering these subsequent questions will filter down the disclosure checklist so that only the checklists / sections you require will be shown / available to download / included within the checklist downloaded.
April 2023
The principal technical changes in this update include the removal of content relating to the now superseded ISQCs and consequential amendments arising as a result of this.
In addition, minor amendments / improvements have been made to other sections of the package, including updating engagement letters to reflect latest guidance.
May 2022
This major update to the methodology principally incorporates:
- Amendments as a result of the new quality management standards.
- Updating documentation for minor changes to laws and regulations, and accounting standards.
- Best practice amendments
April 2021
A number of minor changes to engagement letters, disclosure checklists, accounts and audit exemption criteria checklists have been made in relation to Brexit.
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Mercia online manuals are updated regularly by our technical staff and you will be notified of any significant regulatory changes by email.
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