If you’ve not heard of assurance services before, then allow us to explain. In the simplest possible terms, it is basically an audit service that’s provided by a CPA for the purpose of reviewing financial documents and transactions for accuracy and correctness. The goal of providing this service is to mitigate information risk, which is the risk that’s associated with having incorrect or inaccurate information.
This service provides clients with ability to stay better informed about their finances, and thereby to make better decisions about them. These services can be applied in a wide variety of circumstances. For example, a small business owner might wish to have assurance services so that they can guarantee the accuracy and validity of their books. These services can also be provided to family members who are dealing with a power of attorney situation. In this instance, the individual in question will have their financial information and transactions routinely checked from an objective viewpoint. The information derived can then be delivered to the interested third parties so that they can be assured that their loved one’s finances are in due order.
Regardless of the situation, assurance services are always an excellent way of solving conflicts in family and business relationships. Because the information that’s provided by assurance services is unbiased and objective, it allows for individuals to solve their differences on the basis of verified and accurate facts.
Depending upon your situation, you may wish to get assurance services for yourself. At Baker DMM, we’re happy to oblige your request, and can offer you the expertise that comes from years of handling these issues. If you think that you need help mitigating your information risk, whether it’s with a disabled family member’s finances or your own, then get in touch with us today. We’d be glad to help.