Auditing, Attestation, and Assurance

In this video I discuss how auditing, attestation, and assurance services are related.

In short, auditing is a type of attestation engagement, and all attestation engagements are a type of assurance service.

An audit lends credibility to a company's financial statements.

Attestation lends credibility to any assertions made a company's management. This includes, but is not limited to, a company's financial statements. It would also include issuing an opinion regarding the credibility of a company's pro forma or projected financial figures.

Assurance lends credibility to any type of information, whether it be financial or nonfinancial. Certifying the results of a state lottery or a film awards ceremony would be examples of assurance services.—
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[AlaKareem]

I've spent 2hours analysing one page in an auditing book 📚. And didn't understand anything. And you brilliant Man explain it to me in 5 minutes

[dragonsKeeper]

This is the reason I succeed in Accounting and tbh, I thank you so much.

[sba]

Thank you so much! I love what you do. Please continue teaching us 😊 I'm taking the CPA Board Exams soon and your discussions are very helpful.

[Steven.]

thank you! you do a much better job explaining this than my professors, the powerpoint don't even make sense from my prof. This is so easy to follow.

[bpublictaxenthusiast]

Thank you, my professors lecture slides were confusing me and so were the other google searches about these definitions.

[gtlw]

This was extremely helpful to me. I am in an audit class right now. Thank you!

[JYF]

Excellent explanations! Very helpful, thank you! 😊👍

[xp-kqim]

Finally, I understand! Thank you! Subscribed!

[benfontenot]

Wow that was awesome explanation. Thank you!

[MustafaAli-lbdq]

Can we become an auditor if we are weak at accounting?

[leonardstackelberg]

This is really informative, thank you