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. Dropping it clears the path only if the firm also drops the CPA title, since the model act requires a firm permit for either.