RICHARD A. CHICHAKLI      

What is attestation Services?

Attestation services provide "a report on subject matter, or an assertion about subject matter, that is the responsibility of another party."

The attestation engagement can be looked at as an "audit of a particular subject matter", a an audit that is focused over one particular area. The attestation standards are similar to audit engagement standards.

Attestation Subject-matter

The subject matter of an attest engagement may take many forms, and in accordance with AICPA's Attestation Standards SSAE No. 10; SSAE No. 11; SSAE No. 12; SSAE No. 14 it may including the following:

1. Historical or prospective performance or condition (for example, historical or prospective financial information, performance measurements, and backlog data)

2. Physical characteristics (for example, narrative descriptions, square footage of facilities)

3. Historical events (for example, the price of a market basket of goods on a certain date)

4. Analyses (for example, break-even analyses)

5. Systems and processes (for example, internal control)

6. Behavior (for example, corporate governance, compliance with laws and regulations, and human resource practices)

The subject matter may be as of a point in time or for a period of time.

Examples of Attestation Services

There are numerous types of attestation services that companies might request concerning matters related to the assertion provided in its financial statements; however, in general terms the attestation is likely to fall within the area of verifying compliance, For example, a company may request attestation reports on the financial information recorded for particular entry of the financial statements or for a particular division or unit of its operations. Attestation service can also be provided to verify the soundness, compliance, or effectiveness of certain element of the internal controls system.