Definition

Noun: A formal document, typically prepared by a Certified Public Accountant (CPA) or other qualified professional, that expresses a conclusion or provides assurance regarding the reliability of a written assertion or statement made by another party. It is the result of an attestation engagement, which is a type of consulting or assurance service.

Usage

An attestation report is used to provide independent verification or assurance on a specific subject matter that is the responsibility of a party other than the attestor. It is commonly associated with financial information but can apply to other non-financial data or controls (e.g., cybersecurity, sustainability metrics).

Examples

• The auditor issued an attestation report on the company's internal financial controls.
• Management's assertion about the effectiveness of its data security practices was supported by an independent attestation report.
• The bank required an attestation report from a CPA before approving the loan.

Advanced Usage

• Levels of Assurance: An attestation report can provide different levels of assurance:
  • Examination: Provides a high level of assurance (positive opinion).
  • Review: Provides a moderate level of assurance (limited assurance).
  • Agreed-upon Procedures: Presents findings based on specific procedures without providing an overall conclusion.
• Subject Matter: While often financial, the subject matter of an attestation report can be broad, including prospective financial information, compliance with laws or contracts, or the effectiveness of internal control over financial reporting.

Variants and Related Words

• Attestation (n): The act or process of providing attestation services; the overall engagement.
• Attest (v): To provide an attestation report or service; to affirm or certify.
• Assurance Report (n): A broader term that can encompass attestation reports and other types of independent verification reports.
• Audit Report (n): A specific type of attestation report focused on historical financial statements, providing an opinion on whether they are presented fairly.

Synonyms

• Assurance report
• Verification report
• Certification report (in specific contexts)

Related Phrases

• Report on attestation of controls: A specific type of attestation report focusing on internal controls.
• Issue an attestation report: The formal act of delivering the completed report.
• Scope of the attestation report: Refers to the boundaries and procedures covered by the report.

Noun

1. a consulting service in which a CPA expresses a conclusion about the reliability of a written statement that is the responsibility of someone else