On an SEC engagement, an auditor wishes to determine the officers who receive the greatest total compensation. This objective is related primarily to the:
A) existence or occurrence assertion.
B) rights and obligations assertion.
C) valuation or allocation assertion.
D) presentation or disclosure assertion.
E) completeness assertion.

Question

Quizplus · Accepted Answer

The objective of determining the officers who receive the greatest total compensation is primarily related to the presentation or disclosure assertion. This assertion concerns whether particular transactions and events have been presented correctly, and disclosures are appropriately made in the financial statements. In this context, it involves ensuring that the compensation of officers is disclosed accurately and in sufficient detail as required by relevant standards and regulations.

On an SEC Engagement, an Auditor Wishes to Determine the Officers