An accounting method, procedure, or system designed to promote efficiency, assure the implementation of policy, safeguard assets, and discover and avoid fraud or error. Allows the plan administrator to instruct the auditor not to perform any auditing procedures with respect to investment information prepared and certified by a bank or similar institution or by an insurance carrier that is regulated, supervised, and subject to periodic examination by a state or federal agency who acts as trustee or custodian. The election is available, however, only if the trustee or custodian certifies both the accuracy and completeness of the information submitted. F Nonattest services include bookkeeping, tax compliance, assisting in the preparation of financial statements, assisting in hiring of client personnel, business valuation and development of corporate strategy planning. Attest services include audits, examinations, reviews, compilations, and agreed upon procedure services. If a service isn t defined as an attest service, then it is a nonattest service. Other Comprehensive Basis of Accounting. Subcontracting a process to a third-party company.

n organization s practices, policies, and procedures to safeguard its assets, detect and prevent errors and irregularities, check the accuracy and reliability of accounting information, promote operational efficiency, and ensure that such management practices are properly adhered to.

inancial information outside the basic financial statements that may or may not be required by GAAP.