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Chapter 1 Homework 1. Following is a list of various professional services. Identify each by its apparent characteristics as audit engagement, attestation engagement, or assurance engagement. Because audits are a subset of attestation engagements, which are a subset of assurance engagements, choose the most specific description. In other words, if you believe the engagement is an audit engagement, select only audit engagement. Similarly, the choice of assurance engagement for an audit, while technically correct, would not be the best choice. (LO2) |

Professional service | Type of service | Real estate demand studies | Assurance services | Ballot for awards show | Assurance services | Utility rates applications | Assurance services | Newspaper circulation audits | Assurance services | Third-party reimbursement maximization | Assurance services | Annual financial report to stockholders | Audit services | Rental property operation review | Assurance services | Examinations of financial forecasts and projections | Attestation services | Customer satisfaction surveys | Assurance services | Compliance with contractual requirements | Attestation services | Benchmarking/best practices | Assurance services | Evaluation of investment management policies | Assurance services | Information systems security reviews | Assurance services | Productivity statistics | Assurance services | Internal audit strategic review | Assurance services | Financial statements submitted to a bank loan officer | Audit services | audit engagement: (pg 3) The systematic process of objectively obtaining and evaluating evidence regarding assertions about economic actions and events to ascertain the degree of correspondence between the assertions and established

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