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Unformatted text preview: utation for independence and objectivity. As a result, various
users in the past requested that auditors attest to information beyond historical
ﬁnancial information, but traditional auditing standards did not provide for such
services. The profession responded to this demand for services by establishing a
separate set of attestation standards in 1986. Attestation standards provide the
following deﬁnition for attest services:
Attest services occur when a practitioner is engaged to issue . . . a report on subject
matter, or an assertion about subject matter, that is the responsibility of another party. This deﬁnition is broader than the one previously discussed for auditing
because it is not limited to economic events or actions. The subject matter of
attest services can take many forms, including prospective information, analyses, systems and processes, and even the actions of speciﬁed parties. Note that
ﬁnancial statement auditing is a specialized form of an attest service. Assurance
The accounting profess...
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This note was uploaded on 12/08/2012 for the course ACCT 564 at Washington University in St. Louis.