The audit provides comfort ('assurance') to the users of the accounts that an independent third party (the auditor) has examined the accounts and agrees with them. Each individual line in a set of published accounts needs to be tested.
Assurance service is an independent professional service, typically provided by Chartered or Certified Public Accountants or Chartered Certified Accountant, with the goal of improving information or the context of information so that decision makers can make more informed, and presumably better, decisions.
Types of Assurance Services. Regulatory and compliance audits are types of assurance services. ... When a public accounting firm audits financial statements, they are making sure every number on the statements is accurate. They do this by testing transactions that make up each account.
How it works
Specialising in audit and assurance means that you will be able to work in any professional services firm offering external audit and assurance. You will also gained the skills to work within organisations providing internal audit and assurance services.