Concept Introduction:
Auditing is an independent examination of financial statements; where in independent auditor provides an opinion on the true and fair view of the financial statement.
Assurances services include review of financial statement in which the reviews provides assurance over the correctness and completeness of the financial statements.
To discuss: The meaning of assurances services.
Explanation of Solution
Assurances services include review of financial statement in which the reviewer provides assurance over the correctness and completeness of the financial statements. These services are used by the management to prepare financial reports. These reports are used in decision making. Hence, the assurance service definition is more based on the reports and decision making. The management takes help of this assurance to make sure that the information being used is correct and complete in all aspects.
Want to see more full solutions like this?
Chapter 21 Solutions
EBK AUDITING & ASSURANCE SERVICES: A SY
- “Decision-usefulness approach focuses on the relevance of information being communicated.” Explain this statement.arrow_forwardDiscuss how the elements of efficiency, effectiveness, and flexibility are crucial to the design of an information system?arrow_forwardWhat is central to a successful EDI implementation?arrow_forward
- Auditing: A Risk Based-Approach (MindTap Course L...AccountingISBN:9781337619455Author:Karla M Johnstone, Audrey A. Gramling, Larry E. RittenbergPublisher:Cengage LearningAccounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,Auditing: A Risk Based-Approach to Conducting a Q...AccountingISBN:9781305080577Author:Karla M Johnstone, Audrey A. Gramling, Larry E. RittenbergPublisher:South-Western College Pub