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Hello,
Thank you for your lectures. Could you please explain to me what an ‘assertion level’ is. I understand what an assertion is but the repeated use of ‘risk assessment at the assertion level’ or ‘audit procedures relating to a particular assertion’.
Thank you,
NidhiThink of assertion level as looking at individual figures in the FS to assess if the relevant assertions are correct. Existencs, valuation, completeness etc must all be verified where relevant.
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