Technological advancements in the global economy have changed the focus to the provision of services to assurance companies. Firms have had to shift from the local and traditional modes of doing business and embrace technology and innovation to meet the ever-dynamic customer needs as well as maintaining their competitive advantage. This has made professionalism an essential component in workplaces. The value of the traditional accounting has thus been phased out based on the technological advancements, curbing fraud, need for faster transactions, redundancy, and competition.
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One of the most successful of the Assurance Services (including any proposed new services)
In the new technological and innovative world, the Syst Trust, Risk advisory and the Web Trust will be successful. The dynamism of business transactions has made it easier and faster to do trade through the internet with most services being transacted online. The online transactions of services require urgency, privacy, and transparency. Computer hacking and internet fraud have been on the increase. Many firms have suffered loss of information and funds. This has made many firms go out of business as their information is leaked much to the advantage of the competitors. Therefore, the need for quality will determine the achievement of any firm (Aceituno, September, 2005).
The technological advancements involve the utilization of software and the assurance of its quality as the significant steps towards business success. The firms mentioned above will succeed, as they will be able to provide its customers an opportunity to have privacy for their information. This implies that the firms’ strategies and modes of transactions will make them maintain competitive advantages. The firms will keep the data regarding their customers private, and thus, increase customer loyalty and trust (Dhillon, 2007).
Additionally, the firms will offer assurance to their clients in relation to the availability of services and information relevant at the specified times. The software will secure information and keep off hackers and fraudsters. All the systems that are used can be maintained thus records and data contained their in will be up to date. The firms will incorporate innovations that will make the software secure and free from hackers and fraudsters. Finally, the firms will provide audit accounts through the provision of the attestation reports. This will increase the credibility and trust of the firms by not only the clients but also the public and the government at large, as they will comply with the assurance acts. The assurance reports will also provide information on the performance of firms regarding their transactions (Beynon-Davies,2004).
One of the least successful of the Assurance Services (including any proposed new services)
The performance view and the elder care will fail as it they are based on the traditional make of assurance services. The firms lack the basis through which they can embrace change and dynamism through innovative approaches. The need for the technological globe is not only to have the ability to control and the assessment of risk but also to have innovative control measures that give the firm an upper competitive advantage. It must help the firms win the affection and trust of the clients by assuring them of confidentiality and security of their data and finances. The success of the two firms is pegged on meeting the business objectives which are not customer oriented (Pallais, 1998).
Aceituno, V. (2005). On Information Security Paradigms. ISSA Journal, 25-45.
Beynon-Davies, P. (2004). Database Systems. (3rd edn.). Basingstoke, UK: Palgrave.
Dhillon, G. (2007). Principles of Information Systems Security: text and cases. New York: John Wiley & Sons.
Pallais, D. M. (1998). Guide to Nontraditional Engagements. Fort Worth, TX: Practitioners Publishing Company.