Contemporary Auditing Essay Example | Topics and Well Written Essays - 500 words

Contemporary Auditing - Essay Example and more over it needs a three party relationship that is an auditor [approved and appointed by the Government authority], client and the management. Where as in the other services independent professionals approved by the CPA would carry out the service. Mainly the customers determine the economy of the nation, the aim of any organisation is focused at satisfying the customers, so that the targeted economy could be maintained all the time. The need for satisfying the customers has become a compulsory and necessary requirement to win over the competencies. This is the running economic issue through out the world. Organisations and clients are looking out for reliable information rather than the one obtained through evaluation or investigation. An assurance service is guided by the CPA which include independent verification of the data over which an expanded and reliable and variety of information is provided, as a result the job of decision-making becomes easy .At present satisfying the needs of the customers and improving, the strategies have become important concerns of organisations. To achieve the goals and strategies an assurance service will help the organisations as well as the customers to get assurance over the objectives. So the demand has increased for assurance services rather than for other services. Assurance engagement is a type of commitment taken by the service provider who would make critical reasoning of the issues involved in decision-making. Which as a result will bring together the client and the service provider, in which the latter will give his suggestions for new services to see whether the goals are achieved or not. More over an assurance engagement will include a deep evaluation of the objectives, and formulates best and informative solutions and suggests for further improvement in performance. As attestation engagement service includes the job of reviewing the