Support a specified financial schedule
For example, compare selected receipts or disbursements with source records, or recalculate defined royalty or revenue-sharing amounts under agreed procedures.
Your assurance needsThe right evidence.
The right evidence.
For the right question.
When a lender, investor, board, or business partner needs more than management’s explanation, start by defining the information they need and the kind of report that will meet that need.
Beyond tax returns
Understand what an attestation report can do for you.
Attestation can address defined financial or nonfinancial information—not just an entire set of financial statements.
| Your need | Engagement | What the report provides |
|---|---|---|
| Specific checks and documented results | Agreed-upon proceduresAT-C 215 | Findings from agreed procedures. No assurance opinion or conclusion; users evaluate the findings for their purpose. |
| An opinion on specified subject matter against suitable criteria | ExaminationAT-C 205; AT-C 206 for direct examinations | Reasonable—not absolute—assurance, expressed through an opinion. The approach depends on who measures or evaluates the subject matter. |
| A lower-assurance conclusion on eligible subject matter | ReviewAT-C 210 | Limited assurance, expressed through a conclusion. Not available for every subject matter; the applicable requirements determine eligibility. |
Basis: Understand the AICPA’s currently effective attestation standards, including AT-C 105; understand agreed-upon procedures under SSAE No. 19; and understand direct examinations under SSAE No. 21. See also compare the three report types in the AICPA’s Journal of Accountancy.
Start with your need, not a report label.
Formal engagements are subject to acceptance, suitable subject matter and criteria or appropriately agreed procedures, sufficient evidence, competence, independence, and applicable licensing, firm-registration, quality-management, and peer-review requirements. Availability is confirmed before an engagement is accepted.
Understand current attestation quality-management requirements — AICPA SSAE No. 23; understand Colorado’s peer-review framework — Colorado State Board of Accountancy.
What that could mean for you
Target the information people rely on.
Illustrative applications to discuss—not promises that every report type fits every situation.
Address specified compliance requirements
Identify the relevant contract or program terms, the evidence available, and the reporting approach permitted for the subject matter.
Strengthen reported metrics
Clarify definitions, data sources, and measurement criteria for selected operating or financial metrics before determining an appropriate engagement.
A stronger process and an independent report are different services.
Your engagement should make that distinction clear.
Protect the value of your report
Independence is part of the service.
Your monthly advisory plan can help organize evidence, improve documentation, and address readiness gaps. That work provides no assurance. A formal attest engagement is separately evaluated and accepted.
Advisory and attest work for the same organization may create self-review or management-participation threats. You retain management responsibility; if the work impairs independence, a separate independent provider is needed. A monthly billing arrangement does not remove these requirements.
Understand the independence safeguards that protect your report — AICPA Code of Professional Conduct, sections 1.200 and 1.295.
Choose the right standards, too.
The AICPA’s Statements on Standards for Attestation Engagements (SSAEs, codified as AT-C sections) are distinct from standards for financial statement audits and SSARS financial statement preparation, compilation, and review engagements. “Monthly financial analysis” is not a substitute for any of those formal services.
Compare your financial statement reporting options — AICPA & CIMA.