The auditor has determined exchange rates used by the client to present cash in foreign currencies and has recalculated the amounts.Which audit assertion is associated with this audit procedure?

Question

Quizplus · Accepted Answer

The audit assertion associated with recalculating foreign currency cash balances is valuation, as it ensures that the amounts are correctly recorded at their appropriate values in the financial statements.

The Auditor Has Determined Exchange Rates Used by the Client