• Professional assurance (e.g. compliance)
• Fraud prevention
• Internal Control and Corporate Governance/King III
Internal control is a broad concept that involves internal controls that controls risks to an organisation. The process assures an organisations accurate financial reporting, effectiveness and efficiency in operations and statutory compliance’s.
It is a means by which an organisations resources are monitored, measured and directed playing an important role in preventing fraud and protecting the organisations resources.
What Are Assurance Services?
Assurance services are a type of independent professional service usually provided by certified or chartered accountants such as CPAs. These services can include a review of any financial document or transaction, such as a loan, contract, or financial website. This review certifies the correctness and validity of the item being reviewed by the CPA.
Providers of assurance services will help clients navigate the complexities, risks, and opportunities in their partner networks by proactively managing and monitoring risks presented by third-party relationships. Businesses use assurance services to increase the transparency, relevance, and value of the information they disclose to the market and their investors. Many find by sharing business performance better; it becomes a sustainable growth and competitive differentiation strategy.