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1. Assurance vs. Consulting service: You are Isagani, CPA and auditor of Country Service Cleaning Company. The company president, Mr. Linis, is asking for a consulting engagement, yet keeps mentioning the phrase "provide us with assurance..." You decided to give Mr. Linis a rundown of the differences between assurance services and consulting services. Requirement: Differentiate assurance services rom consulting services, based on the following factors:1. Parties involved, 2. primary purpose, 3. focus, 4. output's objective
2. Which of the following forms may be the subject matter of an assurance engagement take? *
a. all of them
b. historical and prospective financial information
c. behavior
d. systems and processes
Expert Solution
1. parties involved
assurance service - internal auditor only
consulting servive - internal auditor and client
primary purpose -
assurance service - improving quality of information
consultingfservice - provide access to specific specialists
focus
assurance service- independent and professional opinions that improve the quality of information
consulting service - Working in a collaborative fashion with your clients and ensure recommendation are accurate
2. historical and prospective financial information , systems and processes
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