Differentiating between and audit and attestation is not pedantic but I can understand why you might think it is. I explained there difference here: https://new

Differentiating between and audit and attestation is not pedantic but I can understand why you might think it is. I explained there difference here: https://news.ycombinator.com/item?id=27532670 https://news.ycombinator.com/item?id=27532670 TL;DR attestations do not provide a strong level of assurance and there are no standards for conducting them - they are ad hoc engagements. Audits are standardised engagements and must conform to a particular methodology to determine sufficient and appropriate evidence that financial statements are true and fair - basically you need third party info like custodian reports.