When the auditor examines the board of directors' minutes for dividends declared,the auditor should be alert to the possibility of unrecorded dividends declared,particularly shortly before the balance sheet date.Which audit assertion does this address?

Question

Quizplus · Accepted Answer

This addresses the completeness assertion as the auditor is checking for the completeness of dividends declared and ensuring that all dividends have been recorded. The possibility of unrecorded dividends implies that the completeness assertion might be overstated.

When the Auditor Examines the Board of Directors' Minutes for Dividends