Completeness assertion
The completeness assertion concerns whether all items that should have been recorded or disclosed are included. Testing often starts with evidence outside the ledger and traces it into the records, though a suitable procedure depends on the assertion and population.
Worked example
The auditor examines post-year-end supplier payments and unmatched invoices for liabilities omitted at year end.
Common mistake
Confirming recorded payables alone may not find liabilities omitted completely from the ledger.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | AA | Direct | September 2026–June 2027 |
| ACCA | AAA (INT) | Direct | September 2026–June 2027 |