What is assurance services in Auditing

Assurance services (as defined by the AICPA) is an independent professional service, typically provided by Certified Public Accountants, with the goal of improving the information or the context of the information so that decision makers can make more informed, and presumably better decisions.

What is the meaning of assurance services?

Assurance Services are defined as independent professional services that improve the quality or context of information for decision-makers. Information risk is reduced by assurance services, allowing for better decision making.

What is an assurance in auditing?

Assurance in auditing refers to the opinions issued by a professional regarding the accuracy and completeness of what's analyzed. For example, an accountant assuring that financial statements are accurate and valid asserts that they have reviewed the documents using acceptable accounting standards and principles.

What are the two types of assurance services?

The different types of assurance services include auditing and financial projections.

What is defined by audit and assurance services?

The audit is the review of the accounts or documents, while the assurance is the process analysis of those accounts or records. Once analyzed, the organization can make changes as needed and be "assured" they have accurate financials and processes in place.