SUMMARY This study investigates whether attestation influences users’ perceptions of assertion credibility. We also examine whether characteristics of the attestation firm (i.e. firm size, CPA or financial services firm) influence users’ perceptions of assertion credibility. The context for our investigation is the assertion by investment managers that they are reporting their performance results in accordance with the Performance Presentation Standards (PPS) developed by the Association for Investment Management and Research in the United States. The PPS are voluntary reporting standards that can be used by investment managers when reporting their historical performance results. Attestation of asserted PPS compliance can be purchased by the asserter, but is not required. Any independent third party can perform this attestation. Our results are based on an experimental investigation involving 60 pension fund sponsors that use investment managers’ performance reports. Pension fund managers received a case packet that included information on investment managers’ performance. The results reported in the case materials included a statement regarding compliance with the PPS and whether the compliance was attested. The pension fund managers’ perceptions based upon the case materials were collected and compared. Research Note: The Influence of Attestation on Users’ Perceptions of Assertion Credibility in the Asset Management Industry Neil Fargher 1 * and Audrey A. Gramling 2 1 University of New South Wales, Australia 2 Georgia State University, US This study investigates whether attestation of asserted compliance with specified standards influences users’ perceptions of assertion credibility. We find that, when an investment manager reports above average performance, users perceive the investment manager’s assertion to be somewhat more credible when an independent third party has attested to the assertion. When performance results have been attested by an accounting firm, pension fund sponsors perceive that Big Six firms provide a higher level of credibility than do non-Big Six firms. We do not, however, find a difference in perceptions between attestations provided by Big Six firms and attestations provided by financial services firms. Key words: attestation, assurance services International Journal of Auditing Int. J. Audit. 7: 87–100 (2003) Received September 2000 Revised July 2001 Revised June 2002 Accepted July 2002 *Correspondence to: University of New South Wales, School of Accounting, Sydney, NSW 2052, Australia. Email: N.Fargher@unsw.edu.au ISSN 1090–6738 © Blackwell Publishing Ltd 2003. Published by Blackwell Publishing, 9600 Garsington Road, Oxford OX4 2DQ, UK and 350 Main Street, Malden, MA 02148, USA.