Sample content Auditing, Attestation, and Assurance Services ACC/491 Auditing, Attestation, and Assurance Services Auditors provide a critical service to the public, organizations, as well as the government. Some of their business functions additionally have auditing, attestation, and assurance services. These types of services can be completed independently or jointly based on the needs of the organization. Team B will accurately define services by providing examples as well as users of the services in order to determine the standards of the service. The Three Services Defined Auditing as defined by the Report of the Committee on Basic Auditing concepts of the American Accounting Association and cited in Boynton and Johnson. Furthermore, as quoted, a systematic process of objectively gathering and establishing evidence in relation to assertations about economic actions and events to a degree which corresponds to assertions and established criteria of communication between

1. ACC 491 Week 2 Learning Team Assignment Auditing, Attestation, and Assurance Services Paper
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Sample content
Auditing, Attestation, and Assurance Services
ACC/491

2. Auditing, Attestation, and Assurance Services
Auditors provide a critical service to the public, organizations, as well as the
government. Some of their business functions additionally have auditing,
attestation, and assurance services. These types of services can be completed
independently or jointly based on the needs of the organization. Team B will
accurately define services by providing examples as well as users of the services
in order to determine the standards of the service.
The Three Services Defined
Auditing as defined by the Report of the Committee on Basic Auditing concepts of
the American Accounting Association and cited in Boynton and Johnson.
Furthermore, as quoted, a systematic process of objectively gathering and
establishing evidence in relation to assertations about economic actions and
events to a degree which corresponds to assertions and established criteria of
communication between users. There are three particular audits included in the
financial statements, operational audits, and compliance audits. Attestation
services include ¨a written communication which expresses a conclusion about the
reliability in a written assertion and responsibility of a selected party.
Auditing and attesting services equally fall under the range of assurance services.
The American Institute of Certified Public Accountants Special Committee on
Assurance defines assurance services as ¨independent professional services that
improve the quality of information, or its context, decision makers. Assurance
services will not establish a guarantee that supports a reassurance in relation to
assertions made. As previously mentioned, auditing and attesting services are a
type of assurance. In example, there are compilation services, certified Public
Accountant Risk Advisory services, and CPA performance View services. Auditors
present multiple levels of assurance, based on the service and opinions reached.
Assurance services are adjustable as long as they adjust to the needs of the client.
For example, bookkeeping or reviewing particular functions inside an organization
and otherwise helpful in limiting information risks.
Examples of the Three Services
As previously mentioned, there are three different types of services including, The
Financial Statement Audit, the Compliance Audit, and the Operational Audit. A
financial statement audit evaluates how well an organization represents financial
statements in relation to an established criterion within a Generally Accepted
Accounting Principles (GAAP). Furthermore, the majority of companies that hire an
external auditor will come in occasionally, normally on an annual basis in order to
prepare reports on the discoveries of the audit. A compliance audit examines the

3. efficiency of a company and the particular rules and regulations that are linked to
different entities. Among the most common examples of compliance include
income tax audit. An operational audit evaluates organizations operating activities.
Normally, certain audits may not involve Certified Public Accountants but will
involve experts within the industry that the company specializes in.
Examples of attestation services i
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