Attest work

Definition

The engagements where a CPA formally vouches for financial statements, which only a CPA firm may do.

Why It Matters

This is why the ownership rule bites: a firm doing audits or reviews has to be majority CPA-owned, which narrows the buyer pool and shapes how a non-CPA buyer can structure anything. Check what share of revenue is actually attest, because a practice that is mostly tax and advisory with a small audit tail has options a true audit firm does not, including dropping or selling the attest work to clear the path.