week 1 DQ - What are the advantages a firm gains by using...

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What are the advantages a firm gains by using auditing and assurance services? How might you use these advantages to promote the auditing and assurance division within a company? An audit can give business owners valuable information and make sure their financial reports are reliability, credibility, and ensure that statements are fairly presented. With that, auditing and assurance services help companies make better business decisions through improved access to relevant and timely financial information. This is just one of the few advantages of using auditing and assurance services. Auditing and assurance services can also help a business implement financial controls and internal processes that mitigate fraud risk, ensure compliance, increase profitability, improve operating efficiencies and reduce financial risk. These advantages can direct a business to stay within guidelines and prepared to communicate with banks, investors, and partners. Compare the relationships among auditor, client, and external users. How do professional standards for CPAs govern these relationships? An auditor is a professional personnel who performs audit regarding financial statements. There are different types of auditor such as external auditors, internal auditors, and government auditors are just to name a few.
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