AAAAssertion level

An "assertion" is a statement given as absolute fact. So the "assertion level" is the level at which statements are presented as completely true. E.G Management tells the auditor the financial statements show a true valuation of inventory - management are formally "asserting" this statement as being correct, so we call this at the "assertion level". Just because management give a statement at the assertion level, doesn't mean it is actually true - but I didn't need to tell you that! (Look up the definition of assertion.)

Thank you :) I saw the meaning of word assertion but still I was not able to understand. You made it easy for me to understand by giving an example :)

Thank you zubair1310, the link you shared is very good for a quick revision!

In addition, in F8 we did assertions such as COMPLETE, EXISTENCE and others. The auditor do these assertions during the audit and this period is called assertion level. I STAND CORRECTED.

The auditor actually does not "do these assertions". These are the assertions management makes. The auditor in planning the audit will assess the risk inherent in the assertions management makes, by assessing what could go wrong with the control.

Thanks for the correction alkemist.

I didnt find any e book at dis link

So what is the difference between assertion level and management representation? If both are given by the management to advocate the financial statements then what is the difference?