The completeness assertion refers to ensuring that transactions and events that should have been recorded actually have been recorded.

Question

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The completeness assertion is one of the five main assertions used in auditing financial statements, and it focuses on ensuring that all transactions and events that should have been recorded have in fact been recorded. This includes checking that there is no missing information or data that could affect the accuracy and completeness of the financial statements.

The Completeness Assertion Refers to Ensuring That Transactions and Events