The Importance of the Assurance Role of the Auditor

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This 9 page paper considers the statement “Recent years, auditing has developed from the traditional conformance role into a broad and sophisticated variety of assurance services more relevant; there is an expectation that auditing, as a professional service, should not only provide assurance for the credibility of financial statements, but also enhance the quality and integrity of financial information and its usefulness to decision-makers.” The paper looks at the role and importance of auditors and the way they can contribute to increasing standards and the limitations that are inherent in their role. The paper is written with reference to UK auditors. The bibliography cites 7 sources.