The need for assurance services arises because the interests of the users of information may be different from that of the interests of those responsible for providing information.

Question

Quizplus · Accepted Answer

The statement is true. Users of information such as investors, creditors, and regulators, may have different interests compared to the management who provides the information. Assurance services help provide assurance to the users of information that the information provided is reliable and accurate.

The Need for Assurance Services Arises Because the Interests of the Users