What do you call a statement or representation, explicit or implied, made by management regarding the recognition, measurement, presentation, and disclosure of items included in the financial statements and notes?
A) assertion
B) inspection
C) tracing
D) vouching
Correct Answer:
Verified
Q1: Reliability relates to the source of the
Q2: Sufficient audit evidence relates to the quantity
Q4: Auditors gathering evidence to verify that recorded
Q5: A specialist is an individual or an
Q6: Inquiry involves asking verbal questions only.
Q7: The current file includes extracts from the
Q8: In the context of assertions about classes
Q9: Audit risk affects the quantity and quality
Q10: Which of the following is a listing
Q11: Examples of assertions include: accuracy, cutoff and
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