What is a requirement for the subject matter in an assurance engagement?

In an assurance engagement, one of the key requirements is that the subject matter must be prepared by the responsible party. This means that the subject matter is produced or provided by the entity being assessed, ensuring that it is relevant and appropriate for the engagement. The responsible party has the necessary knowledge, expertise, and accountability for the information being assured, which establishes a foundation for the assurance practitioner to evaluate the subject matter and express an opinion or conclusion.

This requirement allows the practitioner to focus on independence and objectivity while assessing the information provided. It also reinforces the importance of the responsible party having control over the subject matter, which is crucial in establishing the reliability and credibility of the assurance engagement's outcome.