AUDITING, ATTESTATION, AND ASSURANCE SERVICES

Auditing, Attestation, and Assurance Services Paper
By
University of Phoenix
ACC 490

This paper will provide examples for each type of service, which is auditing, assurance and attestation. These are very important services when it comes to the auditing process. There are certain individuals and organizations that may request these services. Also, the standards that apply to each service and who establishes those standards will be further discussed. These services are important to ensure profitability and future success for the business.
Examples
Auditing, attestation, and assurance services all play an important role in the auditing process. There are many companies that use these …show more content…

If the use of this procedure results in inaccurate inventory levels or results in the inclusion of irrelevant, management will need to make changes to these internal controls to ensure that the information used to generate financial reports is accurate, reliable, and relevant.
Assurance
Requestors of assurance services are looking for unbiased, objective opinions about the organization being reviewed. The requestors of such services include investors as well as members of the organization’s internal management staff. Assurance services such as customer satisfaction surveys are requested by individuals who need to evaluate the level of service provided to an organization’s customers. For investors, evaluating the level of customer satisfaction can assist in determining the risk involved with investing in the company. Members of an organization’s management staff may also request this type of service to determine if, when, or where changes need to occur. For example, if customers are unsatisfied with the quality of the products sold by an organization, the company may need to look at changing suppliers or the way the product is manufactured. The evaluation will help management to make decisions that can improve the firm’s level of service to its customers.
Establishing Standards
The standards of auditing come from many different areas and different agencies. The areas that help to establish the standards are the public ands private sectors. The