Assertions about disclosure, Auditing

Assignment Help:

Assertions about disclosure

Assertions about disclosure and presentation:

a) Rights and Occurrence and obligations-disclosed transactions and events and other issues have pertained and occurred to the entity.

b) Completeness-all disclosures which should have been involved in the financial statements such have been involved.

c) Understandability and Classification -financial information is suitably existing and disclosures and described are clearly expressed.

d) Valuation and Accuracy -other information and financial are disclosed fairly and at suitable amounts.

The auditor may need the assertions such as described beyond or may express them in a different way given all aspects described beyond have been covered. So for example, the auditor may select to combine the assertions about events and transactions along with the assertions concern account balances. So another one example, there may not be a part assertion related to cutoff of events and transactions where the completeness and occurrence assertions involve suitable consideration of recording transactions in the accurate accounting duration.


Related Discussions:- Assertions about disclosure

ACL PROGRAME, I have some questions in ACL PROGRAME . IF YOU CAN HELP ME

I have some questions in ACL PROGRAME . IF YOU CAN HELP ME

Accounting principles and policies, Accounting Principles and Policies ...

Accounting Principles and Policies The user of the accounts expects that the accounting principles and policies used will be in conformity with IAS, be generally accepted, be

Over head, project report on absorption of overhead and its different meth...

project report on absorption of overhead and its different method

Valuation - long term contracts, Valuation - Long Term Contracts The b...

Valuation - Long Term Contracts The basis of valuation should be cost plus attributable profit as benefits less foreseeable losses and progress payments both receivable and re

Code of ethics for auditor, Fitri, a sole proprietor in pulic practice, pla...

Fitri, a sole proprietor in pulic practice, plans to establish a separate department that will provide internal audit service to his audit clients.

Authoritative document is ias 17 leases, Authoritative Document is IAS 17 L...

Authoritative Document is IAS 17 Leases The suitable technique of amortization or depreciation to require in the case of leasehold property and freehold buildings is straight-

Auditing case study, #Fortex Limited, the meat processing firm, was formed ...

#Fortex Limited, the meat processing firm, was formed in 1985 from three smaller companies. In 1993, however, after a few years of spectacular growth, the company collapsed. a) S

Insurance companies, Insurance Companies Authoritative documents invol...

Insurance Companies Authoritative documents involved as: The Insurance Act The Companies Act IFRS 4 Insurance Contracts The major legislation governing insu

ONLINE EXAM AUDITING CLASS, Hi Dear, Could you please help me with online ...

Hi Dear, Could you please help me with online exam in Auditing Class !!

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd