Auditing & Assurance

Improve the quality and transparency of information

An audit is a systematic review and assessment of information or documents.

There are a few different types of audit but, in the specific context of professional services, an audit is usually financial. It is intended to provide reasonable assurance, but not absolute assurance, that the financial statements give a true and fair view in accordance with the financial reporting framework.

Not all companies are required by law to have audits. Many companies who do not require audits by law opt to have their financial information assured independently, usually by accountancy firms.

Assurance is a professional service with the aim of improving the quality and transparency of information, to reduce the chance of problems occurring from incorrect information. An audit is a type of assurance service.

Assurance services can be regulatory or compliance-based. They work to ensure that a company or organization is following guidelines, rules and policy, and provide both internal and external confidence for financial statements.

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FAQ

Frequently asked questions.

What is defined by audit and assurance services?

Audit is a procedure of closely monitoring the accounting information provided in a company's financial statements. Assurance, on the other hand, involves assessing and analyzing different operations, processes, and procedures.

What is the purpose of audit and assurance?

Their role is to perform assurance and consulting activities designed to evaluate and improve the effectiveness of the entity's governance, risk management and internal control processes. Within audit and assurance, there are a number of key roles.

What are the types of assurance?

In order of increasing level of rigor, accountants generally offer three types of assurance services: compilations, reviews and audits. What's appropriate for your company depends on the needs of creditors or investors, as well as the size, complexity and risk level of your organization.

What provides the highest level of assurance?

Audit: The Highest Level of Assurance

An audit provides the highest level of assurance. An audit is a methodical review and objective examination of the financial statements, including the verification of specific information as determined by the auditor, or as established by general practice.

Auditing & Assurance

Auditing & Assurance

Improve the quality and transparency of information

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Overview

Why Choose Us

Leading Financial Consultants At Your Service

Professional

Privacy

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FAQ

Frequently asked questions.

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