Recruiter's Glossary

Examples: Working Papers • Due Diligence • Substantive Testing

Assurance

Term from Auditing industry explained for recruiters

Assurance is a key service in accounting firms where professionals check company financial records to make sure they're accurate and trustworthy. It's like a thorough inspection of a company's books and financial practices. While auditing is the most well-known type of assurance service, assurance also includes reviewing financial statements, checking internal controls, and verifying that companies follow proper accounting rules. Think of it as financial quality control that helps businesses and investors feel confident about financial information. When you see this term in job descriptions, it's usually related to positions at accounting firms like the "Big Four" (Deloitte, PwC, EY, and KPMG) or other accounting organizations.

Examples in Resumes

Led Assurance engagements for Fortune 500 clients in manufacturing sector

Performed Assurance and Audit services for mid-sized healthcare companies

Managed junior staff on Assurance projects while maintaining client relationships

Typical job title: "Assurance Associates"

Also try searching for:

Auditor Assurance Associate External Auditor Financial Auditor Assurance Senior Assurance Manager Audit and Assurance Professional

Where to Find Assurance Associates

Professional Associations

Job Boards

Professional Networks

Example Interview Questions

Senior Level Questions

Q: How do you handle complex client situations where there are disagreements about financial reporting methods?

Expected Answer: Look for answers that demonstrate leadership, problem-solving abilities, and knowledge of accounting standards while maintaining professional relationships. They should mention documentation, communication with stakeholders, and regulatory compliance.

Q: Describe how you would manage a large assurance engagement with multiple team members and tight deadlines.

Expected Answer: Should discuss project management skills, team delegation, quality control procedures, and client communication strategies. Experience with managing multiple priorities and mentoring junior staff is important.

Mid Level Questions

Q: How do you ensure the quality of work performed by junior team members?

Expected Answer: Should explain review processes, coaching methods, and quality control procedures. Look for mentions of documentation, feedback, and attention to detail.

Q: What steps do you take when you identify a potential material misstatement?

Expected Answer: Should describe the process of investigating discrepancies, documenting findings, communicating with seniors, and following up with clients professionally.

Junior Level Questions

Q: What do you understand about the basic assurance process?

Expected Answer: Should explain the general flow of an assurance engagement, including planning, fieldwork, documentation, and reporting in simple terms.

Q: How do you maintain professional skepticism while building client relationships?

Expected Answer: Should demonstrate understanding of balancing professional requirements with customer service, and importance of independence in assurance work.