Why we need assurance service

Information risk arises from the existence of risks related to information within an
organization. These risks may include information loss, inaccuracies in information,
unauthorized access to information, and various other issues that can cause harm to the
organization.
Assurance services are needed to help mitigate and manage these risks. Assurance
services provide independent and specialized services aimed at confirming the reliability
of information and related processes. These services may include auditing, assessing and
confirming internal control systems, evaluating information risks, and activities related to
compliance with regulations and legal standards.
By providing assurance services, organizations can improve their management of
information risks, ensure the reliability of information and processes, enhance trust from
stakeholders such as shareholders, customers, and partners, and comply with legal
regulations and industry standards. This helps minimize information risk and creates a
safe and trustworthy business environment.
Overall, assurance service is a social role in financial stability while it keeps the economy
stable. Without assurance, the cost of capital would be higher and the standard of living
would be lower.