Attest Function

AAA

DEFINITION of 'Attest Function'

The process of independent review of the validity of data audited by an accountant. The attest function encompasses all research done in an audit, including all of the testing and examination of a company's data and numbers. It also includes the finished audit report. An attest function often refers to the independent review (audit) of a company's financial statements.

INVESTOPEDIA EXPLAINS 'Attest Function'

The attest function is one of the most important duties of any Certified Public Accountant (CPA). In order for an attest function to be affective, an adequate amount of data must be sampled. The goal of an attest function is to express an opinion on a company's financial statements and provide some assurance as to their accuracy.

RELATED TERMS
  1. Financial Statements

    Records that outline the financial activities of a business, ...
  2. Accounting Valuation

    The process of valuing a company's assets for financial-reporting ...
  3. Accounting

    The systematic and comprehensive recording of financial transactions ...
  4. Audit

    1. An unbiased examination and evaluation of the financial statements ...
  5. Certified Public Accountant - CPA

    A designation given by the American Institute of Certified Public ...
  6. Accident Year Experience

    Premiums earned and losses incurred during a specific period ...
Related Articles
  1. Personal Finance

    A Guide To Financial Designations

    Find out which certifications can bring you the greatest career returns.
  2. Professionals

    CPA, CFA Or CFP® - Pick Your Abbreviation Carefully

    A couple of letters can mean a big difference. Find out which designation you need and how to get it.
  3. Professionals

    Finding The Right Accounting Certification

    An accounting certification may be the boost your career needs. Find out how to get the most bang for your buck.
  4. Retirement

    Crunch Numbers To Find The Ideal Accountant

    The phone book isn't the best place to start your search. Learn some shopping tips here.
  5. Taxes

    Surviving The IRS Audit

    Keeping thorough records and knowing the penalties make this experience easier than you'd expect.
  6. Options & Futures

    The Alphabet Soup Of Financial Certifications

    We decode the meaning of the many letters that can follow the names of financial professionals.
  7. Delivery duty paid (DDP) is a shipping term.
    Investing

    What does DDP Mean?

    Delivery duty paid (DDP) is a shipping term specifying that the seller is responsible for all costs associated with delivery of the goods to the buyer. It is usually used when goods are exported ...
  8. Fundamental Analysis

    What is a good interest coverage ratio?

    Learn the importance of the interest coverage ratio, one of the primary debt ratios analysts use to evaluate a company's financial health.
  9. Fundamental Analysis

    What is a bad interest coverage ratio?

    Understand how interest coverage ratio is calculated and what it signifies, and learn what market analysts consider to be an unacceptably low coverage ratio.
  10. Active Trading Fundamentals

    What is liquidity risk?

    Learn how to distinguish between the two broad types of financial liquidity risk: funding liquidity risk and market liquidity risk.

You May Also Like

Hot Definitions
  1. Commodity

    1. A basic good used in commerce that is interchangeable with other commodities of the same type. Commodities are most often ...
  2. Deferred Revenue

    Advance payments or unearned revenue, recorded on the recipient's balance sheet as a liability, until the services have been ...
  3. Multinational Corporation - MNC

    A corporation that has its facilities and other assets in at least one country other than its home country. Such companies ...
  4. SWOT Analysis

    A tool that identifies the strengths, weaknesses, opportunities and threats of an organization. Specifically, SWOT is a basic, ...
  5. Simple Interest

    A quick method of calculating the interest charge on a loan. Simple interest is determined by multiplying the interest rate ...
  6. Special Administrative Region - SAR

    Unique geographical areas with a high degree of autonomy set up by the People's Republic of China. The Special Administrative ...
Trading Center