Attestation Services: Getting Familiar with Attestation Services
Attestation services are like the verification of the company’s financial statements and are usually done by the Certified Public Accountant. Basically, there are three types of attestation services: · Compilation · Review · Audit Compilation When a company asks the CPA to prepare the financial statements, it is known as compilation. Usually, small companies or businesses go for this, as they don’t have a separate staff for accounting. Review The second level of scrutiny in attestation services is review. Reviews are basically like the surety given by the CPA to the third-party lenders, that there is no mistake in the financial statements of the company and are following the GAAP. Audit Audits are the most important part of att...