In assurance services, who are the three parties typically involved?

The correct answer highlights the typical parties involved in assurance services, which are crucial for understanding the dynamics of the assurance process. The process owner is the entity that has responsibility for the processes being assessed, ensuring that there is a clear understanding of the operational context. The auditor plays a vital role in conducting assessments and evaluations of the processes set forth by the process owner, providing an independent third-party perspective to enhance the reliability of the information. Lastly, the user is the party that utilizes the assurance report generated by the auditor, which signifies the trust and confidence in the results provided.

The relationship among these three parties is fundamental in assurance services, as the assurance provided by the auditor increases the user's trust in the process owner’s assertions. This balance ensures transparency, objectivity, and accountability in financial reporting and compliance, making it essential for stakeholders in various contexts.