Who might request auditing, attestation, and assurance services?© BrainMass Inc. brainmass.com December 15, 2020, 5:55 pm ad1c9bdddf
First, the definitions of audit, attest and assurance:
Auditing is the term used to describe the process of obtaining objective evidence as to the reliability and integrity of financial information or statements. It includes procedures such as testing systems and gathering evidence. Inquiry is another important procedure in addition to analytical tests of records and systems.
Attestation is the reporting of the results analyzed and confirmed in the auditing process. A CPA involved in an attest engagement will issue a written report and take responsibility as to the fairness of the information presented. There are levels of responsibility including three standard types: an examination is referred to as an audit, a review which is less in scope, and an ...
The 445 word solution clearly explains the differences between audit, attest and assurance service. In several paragraphs, examples of uses of each type of report are presented.