Pronunciation: [ˈɪsə] (IPA) 
The word "ISRE" is spelled as /aɪ z r iː/. The letters "I" and "S" represent the sounds /aɪ/ and /z/, respectively, while "R" and "E" correspond to the sounds /r/ and /iː/. The phonetic transcription shows that the stress is on the second syllable, pronounced as /zriː/. Although it is unclear what "ISRE" stands for, the correct spelling can aid in proper pronunciation and communication in any context.
ISRE stands for International Standard on Review Engagements. It is a set of guidelines and principles issued by the International Auditing and Assurance Standards Board (IAASB). ISRE provides a framework for professional accountants to perform review engagements.
A review engagement is a type of assurance engagement where an accountant is engaged to perform procedures, primarily consisting of inquiries and analytical procedures, to obtain limited assurance regarding the financial statements. The objective of a review engagement is to enable the accountant to express a conclusion as to whether, based on the procedures performed, anything has come to their attention that causes them to believe the financial statements are not prepared, in all material respects, in accordance with the applicable financial reporting framework.
ISRE provides detailed guidance on the professional responsibilities of the accountant, the planning and performance of review engagements, the documentation and communication of findings, and the form and content of the review report. The standard emphasizes the need for the accountant to exercise professional judgment throughout the engagement and to comply with ethical requirements.
By following the principles and requirements outlined in ISRE, accountants are able to conduct review engagements in a consistent and reliable manner, ensuring that the financial statements are subjected to appropriate procedures to enhance their credibility.
