Which statement best describes assurance services?

The statement that best describes assurance services is that they are independent professional services intended to enhance the credibility of information. This definition captures the essence of assurance services, which are designed to provide confidence to users regarding the reliability and relevance of information.

Assurance services often involve an independent evaluation of data, practices, or systems to attest to their accuracy or compliance with established standards or criteria. This independence is crucial as it assures stakeholders that the information has been subject to objective scrutiny, thereby increasing its reliability and fostering trust.

In contrast, internal auditing practices conducted by company employees are not classified as assurance services in the same sense because internal auditors are part of the organization's structure and their evaluations may lack the necessary independence that defines assurance. Services that exclusively focus on compliance with regulations miss the broader scope that assurance services can encompass, which includes but is not limited to compliance. Lastly, consultative services that do not require independence focus more on advising and guidance rather than the independent validation of information.

The emphasis in assurance services on enhancing credibility through independence distinctly aligns with the definition provided in the correct statement.