Deposit Footnote Attestation For Free

In the world of CPA services applied to financial statements, there are four primary levels of service: preparation, compilation, review, and audit.

Attestation engagements include the following services or forms: agreed-upon procedures, historical or future performance or financial data, compliance, physical characteristics such as the size of a facility that is important in the sale of business, an analysis of sorts, functioning of internal controls, governance ...

There are three main types of attest functions including a comprehensive examination, a review of an examination completed by another party, and a partial examination that is limited to an analysis of specific procedures.

Examples of attestation engagements are: Reporting on financial projections made by a client. Reporting on pro forma financial information formulated by a client. Reporting on how well the internal controls in a client process function.

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.

Audit of historical financial statements. Audit of internal control over financial reporting. Review of historical financial statements. Attestation services on information technology. Other attestation services that may be applied to a broad range of subject matter.

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, ...

Attestation relates to the integrity of the data or information analyzed when compared to the standard or purpose of the assignment. Assurance services are provided to substantiate the data analyzed.

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 Interim Attestation Standards consist of: AT 101 Attest Engagements. AT 201 Agreed-Upon Procedures Engagements.