(Appendix)Which of the following is a conceptual difference between attestation standards and generally accepted auditing standards?
A) The attestation standards provide a framework for the attest function beyond historical financial statements.
B) The requirement that the practitioner be independent is not required under attestation standards.
C) The attestation standards do not permit an attestation engagement to examine prospective "what-if " financial statements.
D) Requirements related to evidence are not included in the attestation standards.

Question

(Appendix)Which of the following is a conceptual difference between attestation standards and generally accepted auditing standards?
A) The attestation standards provide a framework for the attest function beyond historical financial statements.
B) The requirement that the practitioner be independent is not required under attestation standards.
C) The attestation standards do not permit an attestation engagement to examine prospective "what-if " financial statements.
D) Requirements related to evidence are not included in the attestation standards.

Quizplus · Accepted Answer

The attestation standards provide a framework for the attest function beyond historical financial statements, whereas generally accepted auditing standards (GAAS) are focused solely on historical financial statements. The other options are not correct as independence is required under attestation standards (just like in GAAS), attestation engagements can examine prospective "what-if" financial statements, and requirements related to evidence are included in the attestation standards.

(Appendix)Which of the Following Is a Conceptual Difference Between Attestation