When auditing liabilities account balances,auditors are most concerned with management' assertion about
A)Existence.
B)Rights and obligations.
C)Completeness.
D)Valuation and allocation.

Question

Quizplus · Accepted Answer

Auditors are most concerned with the completeness assertion for liabilities to ensure that all obligations are recorded and none are omitted, which could understate liabilities.

When Auditing Liabilities Account Balances,auditors Are Most Concerned with Management