Expand Comment Attestation For Free

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).

One of the things to keep in mind to differentiate each of these services is that audits are performed to discover data, risks, or compliance issues that may not have been known before the audit took place, and attestation is to evaluate and review how true the data or information is when compared to a stated purpose,

There are three types of attestation services: compilation, review and audit.

There are three types of attestation services: compilation, review and audit.

Audits are one type of attestation service. However, attestations also can cover things such as internal control over financial reporting, information technology, among other things.

Attestation is a kind of testimony or confirmation. It is customary to sign a deed, make a will or sign other written documents in the presence of a witness who also signs the document to attest to its contents and the authenticity of the party's signature.

An attestation is a type of audit as it provides an opinion. As the scope increases in attestation services, the governing standards continue to parallel those found within the generally accepted auditing standards (GAAS).

Consider the following examples: An individual witnesses a crime. They write an attestation letter detailing what they saw and sign the letter. A third party also signs the letter, attesting to the authenticity of the witness' signature.

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).

Which of the following is a conceptual difference between the attestation standards and generally accepted auditing standards? The attestation standards provide a framework for the attest function beyond historical financial statements.