While the "testing" we are talking about is not a consistent standard determined on the federal level, there are elements to the process that are considered "industry standard."
The first element is testing the hemp extract. The idea is to make sure that the extract is producing the same quality of hemp extract on a consistent basis. The next element is the actual cannabinoid content to guarantee accurate dosing. The third part is to cross reference the originally tested material provided to the lab with the products provided to the consumer.
There may be variations to this process based on the independent testing entities as well as the producers. Nevertheless, these three elements test the product and the process to a level that is thorough to an industry standard.
Though some might argue that federal standards are optimal, third party testing is designed to give the consumer piece of mind with regard to what they are buying. A producer or distributor that skips this step leads me to ask the question why. Are the hiding something? Are the trying to make a quick buck before industry standards become more universal.
I personally would not buy a product that isn't third party tested. Until the cannabis is accepted by the federal government, I intend to rely on the industry created means off creating standards.
I've mentioned
Motive Wellness many times. They also engage in third party testing.