This lesson explores the differences between negative assurance, positive assurance, and limited assurance in the context of financial statement audits, reviews, and other engagements. It highlights the varying levels of responsibility that auditors take on when providing these three types of assurance. The lesson also discusses how the assurance level may impact the structure of the auditor's report and covers the key aspects that should be considered for different types of engagements, such as the need for independence, reporting issues, procedures performed, and other critical factors.