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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.

The four categories of attestation services are audits of historical financial statements, attestation on the effectiveness of internal control over financial reporting, reviews of historical financial statements, and other attestation services.

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.

A compilation is another type of attestation service that can be helpful in providing a general overview of your financial situation. A compilation does not involve performing any tests or procedures. The CPA compiles the financial statements from information provided by the client.

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.

What Is an Attestation Service? 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.

Although a compilation is not an assurance engagement, it is an attest engagement.