International Framework for Assurance Engagements

The International Auditing and Assurance Standards Board (IAASB) first published the International Framework for Assurance Engagements in 2004.

The International Framework for Assurance Engagements (the Framework) sets out the high-level principles applicable to all assurance engagements as shown in the structure below including:

• Audits of financial statements
• Reviews of financial statements
• Assurance as conducted: ISAE 3000 Assurance Engagements Other than Audits or Reviews of Historical Financial Information (Revised) and its related subject specific standards.

The Framework is worth reading because it sets out the high-level principles that lead to the guidance developed in more detail in ISAE 3000 (Revised).

It should be noted that the Framework itself sits below ISQMs 1-99 International Standards on Quality Management; and the IESBA Code of Ethics for Professional Accountants, which therefore apply to all assurance engagements performed using ISAE 3000 (Revised), see image below.

*IAASB standards are agnostic in terms of the ethical framework applied. However, if a practitioner chooses to represent compliance with an IAASB assurance standard, they must apply an ethical framework which is at least as demanding as the requirements as the IESBA Code of Ethics for Professional Accountants.

**ISSA 5000 remains under development and is expected to be finalised before the end of 2024. Updates can be found on the IAASB website.

Further reading

• Access pronouncements of the IAASB
• ISQM 1
• ISQM 2
• The IESBA Code
• ISAE 3000 (Revised) Assurance Engagements Other than Audits or Reviews of Historical Financial Information
• ISAE 3400 The Examination of Prospective Financial Information
• ISAE 3402 Assurance Reports on Controls at a Service Organization
• ISAE 3410 Assurance Engagements on Greenhouse Gas Statements
• ISAE 3420 Assurance Engagements to Report on the Compilation of Pro Forma Financial Information Included in a Prospectus
• ISRE 2400 (Revised) Engagements to Review Historical Financial Statements
• ISRE 2410 Review of Interim Financial Information Performed by the Independent Auditor of the Entity
• ISRS 4400 (Revised) Agreed-Upon Procedures Engagements
• ISRS 4410 (Revised) Compilation Engagements
• Proposed ISSA 5000 General Requirements for Sustainability Assurance Engagements

Assurance guidance

• Assurance reports on internal controls of service organisations made available to third parties (TECH 01/20 AAF)
• A Framework for Assurance Reports on Third Party Operations (TECH 02/07 AAF)

ICAEW's assurance resource

This page is part of ICAEW’s online assurance resource, which replaces the Assurance Sourcebook.

Join the Audit & Assurance Faculty

Stay ahead of the rest with our comprehensive package of essential guidance and technical advice.