Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
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.
Question: Part A (i) Describe audit sampling. Why do auditors sample instead of examining every transaction? (ii) List the four factors that enter into the sample size
Matters of Audit Process Another matter to be covered as: 1. Accounting policies: these should be uniform all over the group and should be properly disclosed. 2. Consoli
In planning the audit work of the Ministry, the audit staff member collected these details relating to the construction of an office complex. 1. In September 1994, the Ministry
Meaning of True in Auditing Meaning of 'true and fair'/present fairly' Truth in accounting is quite different form scientific truth. Accounting does without a deal along w
Valuation of Debtors Debtors are valued simple like other assets at the lower of cost and total realisable value. Valuation of debtors is actually a consideration of where the
Non-Adjusting Events - Audit Process Non-adjusting events are those that are indicative of conditions such arose than the balance sheet date as a decline in the market price o
Discovery of unlawful acts When an auditor discovers unlawful acts, usually he is not expected to disclose to the police or other authorities unless: The client authorise
Required: Describe a complete audit program for collecting relevant evidence for the audit of the estimated warranty liability. Approach: Develop specific assertions related to
Standard Defines Development and Research The standard defines development and research as follows: (a) Research - planned and original investigation undertaken along with
For each of the following situations, describe how risk of material misstatement should be assessed and what effect the assessment will have on detection risk. (i) Johnson is a
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd