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    Net Worth & Solvency Glossary · Certification

    Attestation, Explained for CA-Issued Financial Certificates

    an engagement · one signed conclusion · on a specific figure, at a specific date
    Definition

    In accounting, attestation is a professional's signed statement of a conclusion about specific information, reached by examining it against stated criteria. When a chartered accountant attests a figure, such as a net worth or turnover figure, the CA is saying that, on the records and procedures described, the figure is what the certificate says it is.

    Attestation is not an audit, and it is not the signing of a copy.

    • Written by Subham Jhunjhunwala
    • Reviewed by CA Sundram Gupta
    • Reviewed on · Updated

    See related terms

    Which attestation do you mean?

    The same word, three different acts

    1. 1
      A CA attests a figureA chartered accountant examines a net worth, turnover or similar figure and signs a conclusion on it. This entry.
    2. 2
      A notary attests a copy or signatureConfirms only that the copy matches an original, or that a person signed. Says nothing about whether the contents are true.
    3. 3
      A certificate is attested for use abroadGovernment offices authenticate a document's signature and seal. That process is covered under Apostille, not here.

    Meaning

    01Attestation, audit and plain copy-signing are not the same thing

    Most people outside the profession treat these three as one. They assert different things.

    Narrowest

    Signing a copy

    Examines
    A copy against an original the signer has seen.
    Asserts
    Only that the copy matches. It says nothing about whether the contents are true.
    Covers
    One document, as copied. A notary's attestation of a signature or a copy works the same way.
    This entry

    Attestation

    Examines
    A specific figure or document, against stated criteria.
    Asserts
    A conclusion about that figure: on the records and procedures described, it is what the certificate says.
    Covers
    One figure at a specific date. Attestation sits between the other two.
    Widest

    An audit

    Examines
    A full set of financial statements against a reporting framework, under auditing standards.
    Asserts
    An opinion on the statements as a whole.
    Covers
    Usually a period, not a date.

    A net worth certificate is an attestation engagement. Calling it an audit overstates it, and calling it a signed copy understates it. In auditing terms, "attestation services" are engagements in which a professional reports on information that someone else has prepared. A "CA attested" document, in the sense this glossary uses, is one where a chartered accountant has given that kind of conclusion.

    Searches for "certificate attestation" for use abroad mean something else: the authentication of a document's signature and seal by government offices. That process is covered under Apostille, not here.

    What the signature commits to

    02The assurance a CA actually gives when attesting a figure

    The assurance is narrower than most clients assume, and the certificate states it on its face.

    The CA confirms that

    1. 1The figures agree with the records examinedBank statements, property records, investment statements and the books, as listed in the certificate.
    2. 2The basis of preparation is as describedHow the figures were arrived at, and on what date, is set out and was followed.
    3. 3The scope was what the certificate says it wasThe procedures named are the procedures performed, no more and no less.

    The CA does not confirm

    • That the records are complete. Completeness rests on the client's own written representation.
    • That assets exist beyond the evidence examined. What was not shown to the CA is not covered by the signature.

    These limits are not boilerplate. They are what give the positive statements their meaning.

    An example

    A net worth certificate signed by a CA for a visa file states that, on the bank statements, property records and investment statements examined, the applicant's net worth on a stated date was a stated amount. It does not say the applicant will remain solvent, and it says nothing about any later date.

    Where the rules come from

    03ICAI guidance and UDIN tagging on attestation engagements in India

    The governing text

    ICAI Guidance Note on Reports or Certificates for Special Purposes (Revised 2016)

    In India, the Institute of Chartered Accountants of India (ICAI) sets out how these engagements are accepted, performed and reported in this Guidance Note. ICAI has issued no separate guidance specific to net worth certificates. The Guidance Note is the governing text.

    Read it on icai.org
    The number on every certificate

    Every certificate signed by a practising chartered accountant must carry a UDIN

    A Unique Document Identification Number is generated on ICAI's portal. ICAI made it mandatory in three steps:

    1. Certificatesincluding net worth and turnover certificates
    2. GST and income-tax audit reportsthe tax audit forms a CA signs
    3. Other audit and assurance workeverything else a member signs in practice
    ICAI announcement of the dates

    What a UDIN proves. A recipient can confirm, independently, that the document was generated by the member who appears to have signed it, on the date it carries.

    What it does not prove. It does not verify the content. A reader who treats a valid UDIN as an endorsement of the figure has misunderstood what it proves.

    Also see

    04Assurance vocabulary surrounding attestation

    • The authority to sign

      Certificate of Practice (COP)

      The authority a chartered accountant needs before signing an attestation for a client.

      Read the definition
    • What completeness rests on

      Management Representation Letter

      The client's written confirmation that supports the completeness the CA cannot establish independently.

      Read the definition
    • The number that ties the document to the member

      UDIN

      The number that ties each attested document to the member who generated it.

    Browse all terms: Net Worth & Solvency Glossary

    Written by Subham Jhunjhunwala · Reviewed by CA Sundram Gupta

    Reviewed on: Last updated: Applies to: certificates signed by chartered accountants in practice in India

    Sources: ICAI, Guidance Note on Reports or Certificates for Special Purposes (Revised 2016); ICAI, UDIN mandatory dates. This entry describes Indian practice in general terms.

    Need help with a certificate that uses attestation? See our Net Worth Certificate.The certificate most often asked for as a "CA attested" figure.