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Attest and Nonattest Services

At Akilah Waldrond CPA PLLC, we help clients follow best financial practices with accuracy, compliance, and transparency. From independent evaluations of financial statements to verification of regulatory compliance, we seek to bring assurance to our clients and stakeholders.

Audits, Reviews, and Compilations

Independent Evaluations and Financial Integrity

Our audit services offer a thorough examination of an organization’s financial statements, gathering and analyzing evidence to provide assurance that statements are free from material misstatements. This process includes verifying transactions, testing internal controls, and ensuring compliance with accounting standards, resulting in an audit report that gives stakeholders confidence in the organization’s financial health and integrity.

We also offer Agreed-upon procedures engagements, financial statement preparation engagements, and other engagements that support the organization’s goals of transparency and integrity.

Review Services

During a review, we perform analytical procedures and inquiries to identify any necessary material modifications in the financial statements. While offering limited assurance compared to an audit, a review still provides stakeholders with confidence that financial statements are prepared accurately.

Compilation Services

We organize the financial information into financial statements in accordance with relevant accounting standards. Compilations are useful for internal purposes or external reporting when a lower level of scrutiny is acceptable.

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Frequently Asked Questions

Find answers to your questions related to attest and nonattest services.

When Do You Need an Audit, Review, or Compilation?

Organizations may need an audit when required by law, lenders, or donors, or to ensure financial integrity, as it provides the highest level of assurance through independent testing. A review is often required by industry regulations or lenders when moderate assurance is sufficient, relying on analytical procedures and inquiries rather than extensive testing. A compilation is the least costly option, used mainly for internal purposes or when financial statements need to be presented formally but without assurance. Choosing the right service depends on compliance needs, stakeholder expectations, and cost considerations.

How do attest services improve financial transparency?

Attest services improve financial transparency by providing an independent and objective evaluation of an organization’s financial information, enhancing credibility and trust among stakeholders. Through audits, reviews, and agreed-upon procedures, CPAs assess whether financial statements are presented fairly and in accordance with applicable accounting standards, helping to detect errors, inconsistencies, or potential fraud.

By requiring organizations to maintain proper financial records and internal controls, attest services promote accountability and reduce the risk of financial misstatements. This increased transparency reassures investors, lenders, donors, and regulatory agencies, ultimately supporting informed decision-making and long-term financial stability.

What are examples of nonattest services?

Nonattest services do not involve assurance or independent verification of financial information. Examples include:

Bookkeeping & Payroll Processing – Recording transactions, reconciling accounts, and managing payroll.
Financial Statement Preparation – Preparing financial statements without providing assurance (often for internal use).
Tax Preparation & Advisory – Filing tax returns, tax planning, and compliance consulting.
Consulting Services – Advising on business strategy, internal controls, and financial management.
Internal Accounting Assistance – Helping with budgeting, cash flow analysis, and financial forecasting.
IT and System Implementation – Assisting with accounting software selection and setup.

These services support business operations but do not provide assurance, so CPAs must consider independence if also performing attest services for the same client.

Can a CPA provide both attest and nonattest services?

Yes, a CPA can provide both attest and nonattest services to the same client, but independence must be carefully evaluated when performing attest services (e.g., audits or reviews). The AICPA Code of Professional Conduct requires CPAs to maintain independence in fact and appearance for attest engagements. If a CPA provides nonattest services (such as bookkeeping or financial statement preparation) alongside an audit or review, they must ensure:

Client Responsibilities – Management must accept responsibility for financial decisions and maintain oversight.
No Management Participation – The CPA cannot perform management functions, such as making financial decisions.
Independence Safeguards – The CPA must document safeguards to prevent impairing independence, such as keeping attest and nonattest work separate.

While CPAs can provide both types of services, they must clearly define their role, avoid conflicts of interest, and comply with professional standards to uphold independence.

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