Milushka Icaza, who was representing her CPA firm at a conference, made the following statement about assertions: When our auditors conduct substantive procedures, we search for
Evidence that recorded accounts exist and that all accounts that should have been recorded,
Indeed have been recorded. Which assertions was she talking about?
A) rights and obligations and recording
B) valuation and allocation and recording
C) occurrence and completeness
D) none of the above

Question

Quizplus · Accepted Answer

Milushka Icaza is referring to the occurrence assertion (evidence that recorded transactions actually occurred) and the completeness assertion (evidence that all transactions that should have been recorded have been recorded).

Milushka Icaza, Who Was Representing Her CPA Firm at a Conference