assurance

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assurance

noun adjuration, affirmation, assur edness, attestation, averment, avow, avowal, avowance, commitment, confidence, confidentness, confirmatio, covenant, declaration, ear nest declaration, engagement, fiducia, guaranty, oath, obligation, pact, paction, pledge, pr omise, r eassurance, security, solemn assertion, solemn pr omise, sur ety, voucher, vow, warranty
Associated concepts: assurance of title, covenant of future assurances
See also: acceptance, accommodation, affirmance, approval, avouchment, backing, bail, belief, binder, bond, certainty, certification, certitude, commitment, confidence, confirmation, consent, contract, conviction, corroboration, coverage, credence, declaration, expectation, faith, guaranty, insurance, license, mainstay, outlook, pact, persuasion, pledge, principle, profession, promise, proof, prospect, recognizance, recommendation, reference, reliance, responsibility, safeguard, safety, security, surety, trust, undertaking, vow, warrant, warranty

ASSURANCE, com. law. Insurance. (q.v.)

ASSURANCE, conveyancing. This is called a common assurance. But the term assurances includes, in an enlarged sense, all instruments which dispose of property, whether they be the grants of private persons, or not; such are fines and recoveries, and private acts of the legislature. Eunom. Dial. 2, s. 5.

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The committee's work is the centerpiece of the AICPA's strategy to expand assurance services, but it will not be the AICPA's only contribution.
The public's acceptance of the CPA as the provider of such nontraditional services will depend on a number of factors: trust in what the CPA designation stands for, buttressed by the Institute's CPA image campaign, training requirements and specific credentials that "label" the CPA as having expertise in these new assurance areas.
The AICPA can also help obtain market permission by creating measurement criteria used in the new assurance services.
The market-permission problem for assurance services should not be exaggerated.
Indeed, a criterion for membership in ASEC task forces is a desire to provide the specific assurance service.
The first is cooperation with the Canadian Institute task force on assurance services (TFAS).
Individual firms have provided various electronic commerce assurance services, but the task force has been focusing on a class of services for the profession as a whole -- those involving business sales to consumers.
Consumers who buy goods and information over the World Wide Web need assurance that the information they supply in a transaction is not misused, that the seller will deliver the goods or services as they were ordered and that the seller's practices regarding delivery, claims and complaints have been disclosed and are followed.
The infrastructure for ongoing development of new assurance services is in place and working.
The American Institute of CPAs has several new products related to assurance services:
Assurance Services: Performance Measurement; $49; product no.
To market, to market we go
In addition, the FSR for Citadel General Assurance Company (Ontario) has been changed to NR-3 (Rating Procedure Inapplicable) from B++ (Very Good) and removed from under review with developing implications.
A.M. Best Affirms Ratings of Several of AXA Canada Inc.'s Subsidiaries; Assigns Rating to InnoVassur, Assurances generales inc

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