What Happens in Practice?

Many different types of organizations perform reviews to provide assurance statements; therefore, not all assurances statements are the same. Most assurances are provided by public accounting firms, but all of these organizations can provide assurances:

  • public accounting firms;
  • certification bodies;
  • technical experts;
  • specialist firms.

Because each organization has its preferred method of assurance, a reader must know for what to look to understand the underlying value of the assurance and thus the credibility of the information in the report. Each assurance provider will vary on the following characteristics:

  • Professional training;
  • Use of professional guidelines;
  • Rigor of assurance procedures;
  • Consistency of service provided.