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What are assertion in relation to audits of financial report

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Auditors do not check 100% of transactions/balances. How do auditors decide what to check and which areas to focus on? Think of some examples of the areas auditors would focus more on and why.

Problem 1: What are assertions in relation to audits of financial reports? Who makes these assertions?

Problem 2: What are the two categories of assertions and what are the assertions in each category?

Reference no: EM132956484

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