Which Of The Following Is Not A Financial Statement Assertion Made By Management

Legality which of the following statements relating to audit evidence is the most accurate statement. 1 existence of recorded assets and liabilities.

Solved Which Of The Following Is Not An Example Of An Ass

In preparing financial statements management is making implicit or explicit claims i e.

Which of the following is not a financial statement assertion made by management. Which of the following is not a financial statement assertion made by management. 1 existence of recorded assets and liabilities. Which of the following is not an assertion that is made in the financial statements by management concerning each major account balance.

Completeness of recorded assets and liabilities 3 valuation of assets and liabilities 4 effectiveness of internal control. 4 effectiveness of internal control. Achieve audit objectives related to a particular assertion.

Which of the following is not a financial statement assertion made by management. The auditors test the validity of these assertions by conducting a number of audit tests. 3 valuation of assets and liabilities.

Assist management in illustrating that the financial statements are in accordance with generally accepted accounting principles. Which of the following is not a financial statement assertion made by management. 4 effectiveness of internal control.

The effectiveness of internal control is not a financial statement assertion made by management. Which of the following is not an assertion that is made in the financial statements by management concerning each major account balance. The concept is primarily used in regard to the audit of a company s financial statements where the auditors rely upon a variety of assertions regarding the business.

2 completeness of recorded assets and liabilities. For example if a balance sheet of an entity shows buildings with carrying amount of 10 million. Assertions regarding the recognition measurement and presentation of assets liabilities equity income expenses and disclosures in accordance with the applicable financial reporting framework e g.

Existence of recorded assets 2. Which of the following is not a financial statement assertion made by management. 2 completeness of recorded assets and liabilities.

3 valuation of assets and liabilities. Management assertions are claims made by members of management regarding certain aspects of a business. Financial statement assertions also referred to as management assertions are explicit or implicit assertions made by a company concerning the fundamental accuracy of the information contained in.

Legality the auditors consideration of internal control is required to be performed at the balance sheet date. A existence of recorded assets and liabilities b completeness of recorded assets and liabilities c valuation of assets and liabilities d effectiveness of internal control.

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