PT0-002 Question #505: Real Exam Question with Answer & Explanation

The correct answer is C: Attestation of findings. Attestation of findings is a formal declaration from an independent third party that validates the credibility of an organization's review, often required in an audit context.

Reporting and Communication

Question

Which of the following is a declaration from an independent third party that lends credibility to the part of the organization undergoing the review and is required as part of an audit?

Options

AExecutive summary
BClient acceptance
CAttestation of findings
DLessons learned

Explanation

Attestation of findings is a formal declaration from an independent third party that validates the credibility of an organization's review, often required in an audit context.

Common mistakes.

A. An executive summary is a high-level overview of a report, usually written by the report's authors, not an independent declaration of credibility.
B. Client acceptance is the client's agreement to the terms or findings of a project, not an independent third-party declaration.
D. Lessons learned are insights gained from a project, usually documented internally for future reference, and do not involve an independent third-party declaration for credibility in an audit.

Concept tested. Audit and compliance terminology

Reference. https://www.aicpa.org/resources/audit-and-assurance/attestation

Topics

#Audit terminology#Attestation#Reporting#Independent review

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