Philippine Framework for Assurance Engagement

Objective of Assurance Engagement is for a professional accountant to evaluate or measure a subject matter that is the responsibility of another party against identified suitable criteria, and to express conclusion that provides intended user with a level of assurance about the subject matter.

An assurance engagement is intended to enhance credibility of information about a subject matter by evaluating whether the subject matter conforms in all material respects with suitable criteria thereby improving the likelihood that the information will meet the needs of an intended user.

According to the Philippine Framework for Assurance Engagements suitable criteria should have the following characteristics:

  1. Relevance- Relevant criteria contribute to conclusions that assist decision making for intended users.
  2. Completeness – Criteria are sufficiently complete when relevant factors that affect the conclusions in the context of engagement are not omitted. Complete criteria include where relevant benchmarks for presentation and disclosure.
  3. Reliability – reliable criteria allow reasonably consistent evaluation or measurement of the subject matter including where relevant, presentation and disclosure when used in similar circumstances by similar qualified practitioners.
  4. Neutrality – neutral criteria contribute to conclusions that are free from bias.
  5. Understandability – understandable criteria contribute to conclusions that are clear, comprehensive, and not subject to significantly different interpretations.



About Jonathan Ruiz CPA

Entrepreneur, CPA Mentor, Stock market Newbie Mentor, Influential Author and Master's Degree in International Business graduate in Hult International Business School, UK. A father of two lovely daughters.
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