What are 'Assurance Services'

Assurance services are a type of professional service usually provided by CPAs. Assurance services can include a review of any 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 a variety of forms and are meant to provide the firm contracting the CPA with pertinent information 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.

Businesses use assurance services to increase the transparency, relevance and value of information they disclose to the market and their investors. Many find by sharing business performance better; it becomes a sustainable growth and competitive differentiation strategy.

Providers of assurance services will help clients navigate the complexities, risks and opportunities in their partner networks by proactively managing and monitoring risks presented by third-party relationships.

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