What types of engagements do the attestation standards cover?
THE ATTESTATION STANDARDS APPLY whenever an independent CPA has been engaged to issue, or issues, an examination report, a review report or an agreed-upon procedures report on subject matter—or an assertion about the subject matter—for which another party is responsible.
What are attestation engagements?
An examination, review, or agreed-upon procedures engagement performed under the attestation standards related to subject matter or an assertion that is the responsibility of another party.
What is attestation provide some examples of attestation engagements?
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.
What are the different types of attestation services?
There are three types of attestation services: compilation, review and audit.
What are the two types of attestation?
Two types of attestation services provided by CPA firms are audits and reviews.
What are the four categories of attestation services?
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.
What are attestation standards?
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.
What is the most common type of attest engagement?
3. What is the most common type of attest engagement? What is most frequently being “asserted” by management on this type of engagement? –A financial statement audit.
What is considered an attest 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.
Is an examination an attestation?
In accounting, an attestation service or engagement is the process of engaging a CPA to provide assurance or attestation audits over services such as: examinations, reviews, or agreed-upon procedure reports.
What is non attest services mean?
Nonattest services are services provided to a client that are not specifically related to the performance of an attest engagement. For example, nonattest services include activities such as financial statement preparation, cash to accrual conversions, reconciliations, and tax return preparation.
What is the difference between attest and Nonattest services?
In basic terms, nonattest services are not related to the performance of an attest engagement, where an attest engagement is one requiring independence within certain bodies of technical standards included in the overarching AICPA Professional Standards: specifically, standards related to auditing, accounting and …
Who can provide attestation?
For attestation of citizenship certification, only Group A official can attest the documents which are very limited to officials like Sub-divisional Magistrate, etc. Character certificate can only be attested by Police record verification and Group A gazetted officer.