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. Certified Public Accountant - CPA

    A designation given by the American Institute of Certified Public ...
  3. Certified Financial Statement

    A financial statement, such as an income statement, cash flow ...
  4. Easy-To-Borrow List

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

    A process by which one's colleagues assess the quality and accuracy ...
  6. Accountant

    A professional who performs accounting functions such as audits ...
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. Financial Advisor

    Why Advisors Need to Learn to Love Online Reviews

    Few websites provide reviews of advisors but that could soon change with the SEC revising some of its rules. Here's how to best deal with such reviews.
  3. Financial Advisor

    CPA, CFA Or CFP® - Pick Your Abbreviation Carefully

    A couple of letters can mean a big difference. Find out which designation you need and how to get it.
  4. 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.
  5. Financial Advisor

    How To Become A CPA

    If you've ever wondered what it takes to earn the CPA designation, here's your answer. Be prepared for lots of studying and lots of testing.
  6. Investing

    CPA Exam Tips

    Tips for the CPA exam - how to approach it, what to expect, and the time it takes to complete.
  7. 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.
  8. Small Business

    How to Conduct an Effective Performance Review

    A proper performance review can be a very useful tool for both managers and employees.
  9. 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.
  10. Small Business

    Tax Savings Opportunities for Small Businesses

    Small business owners shouldn't overlook these potentially substantial tax incentives.
RELATED FAQS
  1. What's the difference between a CFA and a CPA?

    Learn the difference between a Certified Public Accountant and a Chartered Financial Analyst designation. Explore their varied ... Read Answer >>
  2. 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. Fixed-Income Security

    An investment that provides a return in the form of fixed periodic payments and the eventual return of principal at maturity. ...
  2. Free Cash Flow - FCF

    A measure of financial performance calculated as operating cash flow minus capital expenditures. Free cash flow (FCF) represents ...
  3. Leverage Ratio

    Any ratio used to calculate the financial leverage of a company to get an idea of the company's methods of financing or to ...
  4. Two And Twenty

    A type of compensation structure that hedge fund managers typically employ in which part of compensation is performance based. ...
  5. Market Capitalization

    The total dollar market value of all of a company's outstanding shares. Market capitalization is calculated by multiplying ...
  6. Expense Ratio

    A measure of what it costs an investment company to operate a mutual fund. An expense ratio is determined through an annual ...
Trading Center