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Governance, Risk, Audit & Privacy · Intermediate

Assurance

Objective examination of evidence to provide an independent assessment of governance, risk, and control.

Definition

Assurance engagements involve a responsible party, a subject matter, criteria, and a practitioner who expresses a conclusion. Levels include reasonable assurance (audit) and limited assurance (review). Consulting engagements differ in that they provide advice rather than conclusions.

Example

A SOC 2 Type 2 provides reasonable assurance about a vendor's security controls.

Exam tip

Reasonable assurance is high but not absolute.

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