What Is the Difference Between Assurance and Consulting Services

And external assurance engagements with known third parties appear to need less extensive standards than traditional external audit. Consulting in contrast involves only two parties, the auditor (service provider) and the activity management. The activity management — the client — is the customer.

Is assurance a consulting?

Consulting services are not considered as assurance because in consulting services, an accountant generally uses their professional knowledge to make recommendations for a future event or a procedure, such as the design of an information system or accounting control system.

What is considered an assurance service?

Assurance Services are defined as independent professional services that improve the quality or context of information for decision-makers. … Assurance services can be applied to risk assessments, business performance, information systems reliability, e-commerce, and healthcare performance.