While auditing at Bandana Ltd and undertaking tests of controls which are related to controls built around their integrated sales and purchases system, which assertion would be of least interest to you as auditor?
A)Accuracy.
B)Occurrence.
C)Completeness.
D)Rights and obligations.

Question

Quizplus · Accepted Answer

Rights and obligations assertion is least important in the context of an integrated sales and purchases system as it pertains to legal ownership and contractual arrangements, which are not directly related to the system controls. The other three assertions (accuracy, occurrence, completeness) are critical components of system controls and are directly related to the integrity of the transactions processed through the system.

While Auditing at Bandana Ltd and Undertaking Tests of Controls