Investors, creditors, bankers and others now have many options for obtaining financial information. Where challenges exist, however, opportunities abound. The assurance area is opening new doors, enabling CPAs to provide services that are more useful to decision making and relevant in the current marketplace. Assurance services are independent professional services that improve the quality or context of information needed by business decision-makers. Rather than reporting on historical financial data, assurance services focus on the nonfinancial aspects of a business that are more oriented towards future performance.
Assurance services provide a lucrative opportunity to expand practices.
CPAs are singularly qualified as independent assurance providers to furnish businesses and their customers with the certainty they need to compete in today's marketplace. The business and professional experience needed for assurance engagements are the same key attributes and competencies already held by CPAs. The following assurance services allow CPAs to offer new services that extend far beyond the boundaries of traditional auditing, yet fall under the guidelines of existing professional standards. The aging of America means that far more people will need financial and trust services. The CPA, working with other professionals, such as healthcare practitioners and attorneys, coordinates and assures the quality of services provided to the elderly person.