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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.

Examples of attestation agreements are listed below: Agreed-upon procedures engagements. Reporting on financial forecasts and projections. Reporting on pro forma financial information.

General-use attest reports should be limited to two levels of assurance: one based on a restriction of attestation risk to an appropriately low level (an examination) and the other based on a restriction of attestation risk to a moderate level (a review).

9 Attestation risk is the risk that the practitioner may unknowingly fail to appropriately modify. his or her attest report on the subject matter or an assertion that is materially misstated.

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).

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.

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.

All attestation engagements are predicated on the concept that the practitioner reports an opinion about a statement, description, or assertion made by the responsible party about a subject matter. Prospective financial information, including financial forecasts and projections, is the focus of AT-C section 305.

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 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).