Audit Evidence - Concepts & Standards Flashcards Preview

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Flashcards in Audit Evidence - Concepts & Standards Deck (4)
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1
Q

Three Categories of Management Assertions

A
  1. Account Balances at Period End
  2. Presentation & Disclosure
  3. Classes of Transactions & Events during the Period
2
Q

4 assertions for “Account Balances at Period End”

A
  1. Completeness
  2. Existence
  3. Rights & Obligations
  4. Valuation & Allocation
3
Q

4 assertions for “Presentation and Disclosure”

A
  1. Completeness
  2. Classification & Understandability
  3. Accuracy &Valuation
  4. Occurrence & Rights & Obligations
4
Q

5 assertions for “Classes of Transactions & Events”

A
  1. Completeness
  2. Classification
  3. Cutoff
  4. Accuracy
  5. Occurence