Attestation Function

Question 1

What are the 5 general attestation standards?

Answer 1

1. the engagement shall be performed by a practitioner or practitioners having adequate technical training and proficiency in the attest function
2. the engagement shall be performed by a practitioner(s) having adequate knowledge in the subject matter of the assertion
3. the practitioner shall perform an engagement only if her/she has reason to believe that the subject matter is capable of reasonable consistent evaluation against criteria that are suitable and available to users
4. in all matters relating to the engagement, an independence in mental attitude shall be maintained by the practitioner(s)
5. due professional care shall be exercised in the performance of the engagement

Question 2

What are the 2 attestation standards of field work?

Answer 2

1. the work shall be adequately planned and assistants, if any, shall be properly supervised
2. sufficient evidence shall be obtained to provide a reasonable basis for the conclusion that is expressed in the report

Question 3

What are the 4 attestation standards of reporting?

Answer 3

1. the report shall identify the subject matter of the assertion being reported on and state the character of the engagement
2. the report shall state the practitioner’s conclusion about the subject matter or the assertion in relation to the criteria against which the subject matter was evaluated
3. the report shall state all of the practitioner’s significant reservations about the engagement, the subject matter, and if applicable, the assertion related thereto
4. the report shall state that the use of the report is restricted to specified parties under the following conditions:
   a. when the criteria used to evaluate the subject matter are determined by the practitioner to be suitable only for a limited number of parties who either participated in their establishment or can be presumed to have an adequate understanding of the criteria
   b. when the criteria used to evaluate the subject matter are available only to specified parties
   c. when reporting on subject matter and a written assertion has not been provided by the responsible party
   d. when the report is on an attest engagement to apply agreed-upon procedures to the subject matter