Assurance in accounting refers to independent professional services provided by certified or chartered accountants, such as certified public accountants (CPAs), that aim to improve the quality or context of information for decision-makers. Assurance services provide independent and professional opinions that reduce information risk, allowing for better decision-making. The following are some key points to understand about assurance in accounting:

• Assurance services can include a review of any financial document or transaction, such as a loan, contract, or financial website, and can be applied to risk assessments, business performance, information systems reliability, e-commerce, and healthcare performance.

• Assurance engagements designed to test historical financial information are referred to as assurance reviews, but assurance reports can be obtained over many other subject matters.

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

• Assurance services are different from audits, which are impartial reviews and analyses of a companys financial statements and financial reports that seek to confirm the fairness and accuracy of their claims relative to the activities they represent.

• Assurance services are aimed at improving the quality of information for the individuals making decisions, providing independent assurance to bring comfort that the information on which one makes decisions is reliable, and therefore reduces risks, in this case, information risk.

Businesses use assurance services to increase the transparency, relevance, and value of the information they disclose to the market and their investors.