Certified Government Financial Manager (CGFM) Practice Exam 2025 – Your All-in-One Guide to Exam Success!

In the context of attestation engagements, the focus is on providing assurance on a subject matter or an assertion made by one party to another. The types of attestation engagements typically include reviews, examinations, and agreed-upon procedures.

A review provides a moderate level of assurance that financial statements are free of material misstatement. An examination offers the highest level of assurance, involving a deep dive into the financials with extensive evidence to support the findings. Agreed-upon procedures involve applying specific procedures to the subject matter and reporting the findings without expressing an opinion.

Consulting, however, does not fall under the category of attestation engagements. Consulting services are advisory in nature and may include recommendations based on analysis and assessments, rather than providing assurance or verifying assertions about financial information. This fundamental difference highlights why consulting is not classified as an attestation engagement. Understanding the distinctions between these types of services is essential for recognizing the boundaries of attestation engagements in the realm of government financial management.