What is an Attestation Report?

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Attestation reports are an important tool for businesses to demonstrate their compliance with regulations and data security standards.
They provide an independent third-party assessment of the effectiveness of a company's security controls and processes.
The report serves as proof of a company's system, processes, and practices. It is broken down into three components: compilation, review, and audit. Compilation pertains to outsourcing the preparation of financial statements, while review and audit refer to quicker and more costly procedures, respectively.
They are also used to identify potential risks and vulnerabilities, and to ensure that any necessary corrective actions are taken.
When it comes to attestation vs. auditing, the former can be defined as a review process whereby data and evidence are compared to a particular control or process in order to determine its accuracy.
Auditing seeks to discover any risks or non-compliance issues which were not known prior to the start of the process.
By providing a detailed and accurate report of a company's security posture, attestation reports can help to build trust among customers and other stakeholders.
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