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Financial statement users are interested in information about the risks and uncertainties that could significantly affect an entity's future cash flows, results of operations, and financial condition. A principal source of such information is the Management's Discussion and Analysis (MD&A) that entities subject to the Securities and Exchange Commission (SEC) are required to present. Because of the importance of MD&A to users, an entity may engage an independent public accountant to attest to the representations contained in that information. This proposed statement on standards for attestation engagements provides performance and reporting guidance for such engagements.
Attest function (Auditing) -- Standards -- United States
Accounting | Taxation
American Institute of Certified Public Accountants. Auditing Standards Board, "Proposed statement on standards for attestation engagements : examination of management's discussion and analysis;Examination of management's discussion and analysis" (1987). Statements of Position. 505.