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Assurance vs. Attestation Services

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What is the difference between assurance and attestation services? Please provide examples of each.

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Solution Preview

Before you attempt to look at the difference between assurance and attestation services, the first thing you may want to do is define each service and give examples of each; after which you can state the differences between both services.

In addition to auditing services, new services such as attesting and assurance services have been added to those which CPA's may offer. Attestation engagements are provided in circumstances that require that the assertions and statements of a party need to be reviewed and verified by an impartial third party with adequate knowledge and expertise to provide an opinion on the accuracy and validity of the assertions. Hence, with attestation engagements, CPAs usually review (for example), on behalf of their client, the information provided by a third party ...

Solution Summary

The solution discusses the differences between assurance and attestation services and provides an example of each.

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