What Happens in Practice?

Different assurance providers will choose different characteristics to include in the assurance statement depending on custom, the engagement contract negotiated with the company, the type of review performance, the stage of reporting, and other considerations.   Here are two assurance statements illustrating characteristics in assurance statements.

Reasonable Assurance -> Specific

Ericsson is headquartered in Stockholm, Sweden and is a leading supplier of telecommunications equipment and services, such as network equipment and systems for mobile calls. Ericsson’s assurance statement indicates that it is a reasonable assurance on specific parts of the report. Click to view the characteristics of Ericsson’s Assurance Statement .

Internal Audit and Reasonable External Assurance -> Specific

Johnson Matthey is a British chemical company and conglomerate. The company headquarters is located near London, England. Note that Johnson Matthey’s report provides both internal audit and external independent third party assurances on specific parts of the report. The type of assurance provided is reasonable. Click on the picture to view these characteristics of Johnson Matthey’s assurance statement.