What are 'Assurance Services'

Assurance services are a type of professional service usually provided by CPAs. Assurance services can include review of any kind of financial document or transaction, such as a loan, contract or financial website. This review certifies the correctness and validity of the item being reviewed by the CPA.

BREAKING DOWN 'Assurance Services'

Assurance services can come in variety of forms and are meant to provide the firm contracting the CPA with pertinant information in order to ease decision making. For example, the client could request that the CPA carefully go over all of the numbers and math that are on the client's mortgage website to ensure that all of the calculations and equations are correct.

RELATED TERMS
  1. Assurance

    Coverage of an event that is certain to happen. Assurance is ...
  2. Negative Assurance

    A representation that particular facts are believed to be accurate ...
  3. Certified Public Accountant - CPA

    A designation given by the American Institute of Certified Public ...
  4. Easy-To-Borrow List

    A list of securities deemed to be available for borrowing in ...
  5. Accountant

    A professional who performs accounting functions such as audits ...
  6. Credit Review

    A credit review refers to the periodic reviews conducted by creditors ...
Related Articles
  1. Personal Finance

    How Much Do CPAs Make?

    If you're considering becoming a CPA, here's what you might expect to earn.
  2. Insights

    Finding The Right Accounting Certification

    An accounting certification may be the boost your career needs. Find out how to get the most bang for your buck.
  3. Insights

    Finding The Right Accounting Certification

    The right accounting certification can open the doors of opportunity.
  4. Personal Finance

    Common Interview Questions for Financial Auditors

    Identify questions commonly asked at financial auditor job interviews, and learn to formulate winning responses that give your candidacy a boost.
  5. Small Business

    How to Conduct an Effective Performance Review

    A proper performance review can be a very useful tool for both managers and employees.
  6. Taxes

    Tax Software Vs a CPA: Which Is Right For You?

    There are occasions when software will suffice, and others that require an accountant’s expertise. Here how to decide which is right for you.
  7. Investing

    The CPA Exam: What You Need To Know

    Interested in becoming a certified public accountant? Here's what you need to know about the CPA exam.
  8. Taxes

    5 Easy Tax Tips for New Families

    New and young families may find they have special tax planning concerns.
  9. Insights

    A Look At Accounting Careers

    More than just crunching numbers, this career blends detective work with trouble shooting.
  10. Managing Wealth

    Impact of a 5-Star Yelp Review on a Company

    Learn the impact that a 5-star Yelp review can have on small businesses and how Yelp influences local competition between businesses.
RELATED FAQS
  1. What is the difference between a compiled and a certified financial statement?

    All publicly-traded companies are required to provide financial statements, including a balance sheet, cash flow statement ... Read Answer >>
Hot Definitions
  1. Taxable Income

    Taxable income is described as gross income or adjusted gross income minus any deductions, exemptions or other adjustments ...
  2. Chartered Financial Analyst - CFA

    A professional designation given by the CFA Institute (formerly AIMR) that measures the competence and integrity of financial ...
  3. Initial Coin Offering (ICO)

    An Initial Coin Offering (ICO) is an unregulated means by which funds are raised for a new cryptocurrency venture.
  4. The Bernie Madoff Story

    Bernie Madoff ran a multibillion-dollar Ponzi scheme that is considered the largest financial fraud of all time.
  5. Pyramid Scheme

    An illegal investment scam based on a hierarchical setup. New recruits make up the base of the pyramid and provide the funding, ...
  6. Ponzi Scheme

    A fraudulent investing scam promising high rates of return with little risk to investors. The Ponzi scheme generates returns ...
Trading Center