When reviewing a loan agreement to ascertain whether the bank's security over any of the client's assets has been included in the financial report, the audit assertion being achieved is:
A)valuation and allocation.
B)completeness.
C)presentation and disclosure-accuracy and valuation.
D)presentation and disclosure-completeness.

Question

Quizplus · Accepted Answer

This type of review is specifically focused on ensuring that all relevant information, including the bank's security over the client's assets, has been accurately disclosed in the financial report. As such, the assertion being achieved is presentation and disclosure-completeness.

When Reviewing a Loan Agreement to Ascertain Whether the Bank's