When auditing the premium or discount on bonds (including amortization),the auditor primarily focuses on which assertion?

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When auditing the premium or discount on bonds, the auditor primarily focuses on the valuation assertion. This is because the premium or discount represents the difference between the stated face value of the bond and its fair value. The auditor must ensure that the premium or discount is accurately calculated and properly accounted for in the financial statements. The auditor will also need to verify that any amortization of the premium or discount is being done correctly in order to accurately reflect the bond's value over time.

When Auditing the Premium or Discount on Bonds (Including Amortization),the