A company's management makes several assertions about the ending balances of asset, liability, and equity accounts at the end of a period. It is the job of the auditor to evaluate these assertions:
1. Existence (do the assets, liabilities, and equity interests actually exist?)
2. Rights and Obligations (does the company hold rights to these assets?)
3. Completeness (are all assets, liabilities, and equity interests included in this ending balance?)
4. Accuracy, Valuation, and Allocation (are the ending balances of the assets, liabilities, and equity interests for the correct amounts?)
5. Classification (are assets, liabilities, and equity interests in the right accounts?)
6. Presentation (have assets, liabilities, and equity interests been appropriately aggregated and disaggregated and clearly described? Are the disclosures relevant and understandable?)
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Негізгі бет Assertions about Account Balances (Auditing)
Пікірлер: 4