Accounting and Auditing Research, 11th Edition

9Assurance Services and Auditing Research

LEARNING OBJECTIVES

After completing this chapter, you should understand:

• The types of assurance and consulting services and the applicable standards.
• The environment for the assurance services standard-setting process.
• Sustainability Assurance.
• Authoritative auditing support.
• The Public Company Accounting Oversight Board (PCAOB).
• How to utilize the AICPA’s Professional Standards in research.
• The AICPA Code of Professional Conduct.
• The role of auditing in the public sector.
• The role of professional judgment and skepticism in the research process.
• International dimensions of auditing.
• Data analytics, including AI, in auditing research.

Assurance Services

To focus on the needs of users of decision-making information and to improve the related accounting services, an AICPA committee conducted research that consisted of assessing customer needs, external factors, information technology, and needed competencies to offer these new value-added services. These services are referred to as assurance services, defined as follows:

Assurance services are independent professional services that increases confidence in the information, or its context, for decision-makers, which the professional has demonstrated trust in providing the assurance service.

Notice that this definition of assurance services implies that the service itself will add value to the user, not necessarily just the report. Additionally, an independent professional may ...