Reasonable Assurance
What is Reasonable Assurance?
A high but not absolute level of assurance that the subject matter is free from material misstatement, the standard for financial and compliance audits.
Terms that appear alongside reasonable assurance
Each of these is named in at least one of the same controls as reasonable assurance. The number is how many controls name both.
- audit 4 shared controls
- policy 3 shared controls
- data quality 3 shared controls
- attestation 2 shared controls
- benchmarking 2 shared controls
- compliance 2 shared controls
Frameworks that govern reasonable assurance
What the standards actually require on reasonable assurance
Requirements naming reasonable assurance across 6 standards, quoted from the control text.
For reasonable assurance the practitioner must reach the same understanding, identify and assess (not just identify) the risks of falling short of each requirement, respond to them, and learn about the internal controls relevant to the compliance activity, jud...
asae-3100-compliance-engagements-auasb-december-2022::p32R · Paragraph 32R Reasonable assurance: assessing risks and understanding controls →For each objective the risks that threaten it have been identified and the described controls, provided they operate effectively, would give reasonable assurance that the risks will not stop the objective from being met;
soc-1-ssae-18::C.2 · SOC 1 C.2 Controls suitably designed: risks identified and the controls, if operating effectively, giving reasonable assurance the objectives are achieved →The risk management framework must provide reasonable assurance that each material risk to business operations is being prudently and soundly managed, having regard to the size, business mix and complexity of those operations.
SPS220-P15 · Reasonable Assurance of Prudent and Sound Management →The bank reviews VA/PT coverage and scope and ensures the reports explicitly state reasonable assurance for each area, a requirement set when empanelling or contracting the auditor.
rbi-cybersecurity-framework-for-banks::157 · Para 157: reasonable assurance per area stated in VA/PT reports →Issuers must maintain a system of internal accounting controls sufficient to provide reasonable assurance that transactions are executed with management's authorisation, recorded to permit GAAP financial statements and asset accountability, that access to asse...
us-foreign-corrupt-practices-act-fcpa::A-2 · Devise and maintain internal accounting controls that give reasonable assurance →Management designs, implements, monitors and documents controls that give reasonable assurance of achieving the commitments and requirements on the basis of the applicable criteria (Guide 2.191).
aicpa-soc-3::M-4 · Design, implement, monitor and document effective controls →Questions people ask about reasonable assurance
What is Reasonable Assurance?
Why is Reasonable Assurance important for compliance?
Which compliance frameworks address Reasonable Assurance?
Where can I learn more about Reasonable Assurance?
See how Reasonable Assurance applies across compliance frameworks
Our platform maps 1,016 frameworks with 316K cross-framework control mappings. Explore how this concept is addressed across standards.