Excise Equation Attestation For Free

In what ways are assurance services similar to attestation services (including audits of financial statements)? An assurance service engagement is one that improves the quality of information, or its context, for decision makers. Thus, an attestation service engagement is one type of an assurance service.

Attestation services are when a certified public accountant (CPA) expresses a conclusion about the reliability of a company's financial statements. There are three levels of scrutiny and review included under the umbrella term attestation services, with only the most intensive level called a financial audit.

In finance, an attestation service is a CPA's declaration that the numbers are accurate and reliable. As the service is completed by an independent party, it validates the financial information prepared by internal accountants.

Putting it in few words then assurance engagement is much broader term and concept as compared to attestation engagement. It will not be wrong if we say that all attestation engagements are assurance engagements but not every assurance engagement is attestation engagement.

In an attestation engagement, a party other than the practitioner (usually management) measures or evaluates the underlying subject matter against the criteria. In a direct engagement, the practitioner evaluates the underlying subject matter against applicable criteria.

A direct engagement is an assurance engagement in which the practitioner evaluates the underlying subject matter against applicable criteria and aims to obtain sufficient appropriate evidence to express, in a written direct assurance report, a conclusion to intended users other than the responsible party, about the

Audits: Investigating Aspects of Your Organization. Attestation: Checking the Validity of Data and Internal Controls. Assurance: Building Confidence by Examining the Credibility of Information.

Attest, or attestation, is a component of assurance. An individual or company may provide assurance by attesting to the outcome of a focused engagement.

An attest engagement is one in which a CPA in public practice (i.e., practitioner) is engaged to, or does, issue an examination/audit, review, compilation or agreed-upon procedures report on subject matter, or an assertion about subject matter, that is the responsibility of another party (usually management).

The assertion evaluates, using suitable criteria, the subject matter for which the accountable party is responsible. In a direct reporting engagement, the practitioner's conclusion will evaluate directly, using suitable criteria, the subject matter for which the accountable party is responsible.