An auditor’s letter issued on significant deficiencies relating to a nonissuer’s internal control observed during a financial statement audit should:I. include a restriction on distributionII. indicate that the purpose of the audit was to report on the financial statements and report on internal control

CPA attestation engagements other than audits of historic financial information are assurance services performed under SSAE (AICPA) or CSAE (Canada) standards. These include examinations, reviews, or agreed-upon procedures on subject matter like compliance, internal controls, sustainability reports, and prospective financial data.  Key Aspects of Attestation Engagements Purpose: To enhance confidence in financial or non-financial information, providing either reasonable or limited assurance. Standards: Governed by Statements on Standards for Attestation Engagements (SSAE) in the US and... Show more

CPA attestation engagements other than audits of historic financial information are assurance services performed under SSAE (AICPA) or CSAE (Canada) standards. These include examinations, reviews, or agreed-upon procedures on subject matter like compliance, internal controls, sustainability reports, and prospective financial data. 

Key Aspects of Attestation Engagements
Purpose: To enhance confidence in financial or non-financial information, providing either reasonable or limited assurance.
Standards: Governed by Statements on Standards for Attestation Engagements (SSAE) in the US and CSAE 3000/3001 in Canada.
Subject Matters: Examples include compliance with contracts or laws, MD&A, investment performance statistics, and software controls. 

Types of Attestation Engagements
Examination: High level of assurance (similar to an audit), resulting in a positive opinion.
Review: Moderate level of assurance, resulting in a conclusion.
Agreed-Upon Procedures (AUP): The CPA performs specific procedures agreed upon with the client and reports findings. 

Attestation vs. Direct Engagements
Attestation Engagement: Management measures the subject matter against criteria and provides a written assertion, which the CPA then verifies.
Direct Engagement: The CPA directly measures the subject matter against criteria and reports on it directly. 

Common Examples
Service Organization Controls (SOC): Reports on controls at service organizations (e.g., SOC 1, SOC 2).
Compliance Reports: Reporting on compliance with agreements or regulations.
Prospective Financial Statements: Examinations of forecasts or projections.
Sustainability/ESG Reporting: Assurance on environmental, social, and governance data. 

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