Two Types of Attestation Services Provided by CPA Firms Are

question 14

Essay

Two types of attestation services provided by CPA firms are audits and reviews. Discuss the similarities and differences between these two types of attestation services. Which type provides the least assurance?

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Definitions:

Public Trustee

A government official or department appointed to manage the estates, property, or financial affairs of individuals unable to do so themselves due to incapacity, absence, or death.

Doctrine of Mistake

Legal principles that allow a contract to be declared void if both parties were under a mutual misunderstanding about a key fact of the agreement.

Willful Blindness

The deliberate avoidance of acknowledging information or facts that one could easily know, often to escape liability.

Unfair

Acting in a manner that is unjust, biased, or not in accordance with the rules or standards.