The Significance of Assurance Services for Auditing Introduction The American Institute of Certified Public Accountants (AICPA) has established the Assurance Services Executive Committee (ASEC) to offer certified public accountants (CPA) guidelines above and beyond the standards required by other authoritative bodies. In pertinent part, the ASEC’s mission is to, “. . .assure the quality, relevance and usefulness of information or its context for decision makers and other users [of financial statements] (AICPA, n.d).” There was a time when users of financial statements could reasonably rely on the accuracy of audited financial statements. Notorious cases, such as Bernie Madoff’s Ponzi scheme and the Enron debacle, have shown that CPAs and...The end:
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