This preview shows page 1. Sign up to view the full content.
Unformatted text preview: , attest, and assurance services. Many times these terms
are used interchangeably because they are related, and, at a general level, they
encompass the same process: the evaluation of evidence to determine the correspondence of some information to a set of criteria and the issuance of a report to
indicate the degree of correspondence.
Figure 1–2 shows the relationship among auditing, attest, and assurance services. Auditing services are a subset of attest services, which, in turn, are a subset
of assurance services. In other words, all auditing services are attest services, and
all attest services fall into the broader category of assurance services. However,
Certiﬁed Public Accountants (CPAs) provide some assurance services that do not
qualify as attest services, and they provide certain attest services that are not
considered audits. We’ll discuss each category of service in turn. Auditing
LO 5 Consider the following general deﬁnition of auditing:
Auditing is a systematic process of objectively obtaining and evaluating evidence
regarding assertions about economic actions and events to ascertain the degree of
View Full Document
This note was uploaded on 12/08/2012 for the course ACCT 564 at Washington University in St. Louis.