However certied public accountants cpas provide some

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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 corres...
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This note was uploaded on 12/08/2012 for the course ACCT 564 at Washington University in St. Louis.

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