In an assertion-based engagement, who performs the evaluation of the subject matter?

In an assertion-based engagement, the responsible party is pivotal because they hold accountability for the subject matter being evaluated. They are the individuals or entities that prepare the assertion, which is essentially a statement about a particular aspect of the subject matter. This party must ensure that the information provided is accurate and reliable, as they are the ones with the most knowledge and insight into the subject matter at hand.

The responsible party's evaluation is critical since it establishes the basis for the assurance practitioner's work. The assurance practitioner, while they may provide their professional opinion or report, relies on the responsible party's assertions. Ultimately, the quality of the assertion will impact the overall evaluation and conclusions drawn in the engagement.

In this context, intended users and regulatory bodies play different roles. Intended users are those who will utilize the information, while regulatory bodies set the standards but do not perform evaluative tasks in an assertion-based engagement. Therefore, the responsible party is the correct choice when it comes to evaluating the subject matter.