Limit 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).

Auditing is a subset of attestation engagements that focuses on the certification of financial statements.

Unlike auditing standards, attestation standards add assurance to information other that historical financial statements. Attestation standards are an extension to the auditing standards.

There are three types of engagements that will need to be presented in ance with the Statement of Standards for Attestation engagements (reviews, examinations, and agreed-upon procedures).

An attestation engagement is an arrangement with a client where an independent third party investigates and reports on subject matter created by a client. Examples of attestation engagements are: Reporting on financial projections made by a client. Reporting on pro forma financial information formulated by a client.

An assurance engagement would be related to a review engagement for a company and an attestation service would be the quality of internal controls of a company.

What are the Attestation Standards? The goal of attestation standards are to provide guidance, set boundaries around a growing service line, define a measure of quality, and outline the objectives that should be reached when performing attestation engagements.

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, ...