Classify Formula Attestation For Free

The attestation standards establish requirements for performing and reporting on examination, review, and agreed-upon procedures engagements that enable practitioners to report on subject matter other than historical financial statements.

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.

Examples of attestation agreements are listed below: Agreed-upon procedures engagements. Reporting on financial forecasts and projections. Reporting on pro forma financial information. Compliance attestation. Reporting on an entity's internal control over financial reporting.

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,

An attest service, or attestation service, is an independent review of a company's financial statement conducted by a certified public accountant (CPA). The CPA delivers an attestation report with conclusions about the reliability of the data.

Conclusion. Audits, reviews and compilations are three very different levels of attestation services available for financial statements, and the information provided above will help you understand the differences and determine which one is appropriate for your business.

Conclusion. Audits, reviews and compilations are three very different levels of attestation services available for financial statements, and the information provided above will help you understand the differences and determine which one is appropriate for your business.