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audit assertion/objective of audit work

This topic has 4 replies, 3 voices, and was last updated 12 years ago by QIN.

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May 11, 2012 at 9:20 am #52600
QIN
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what’s the difference? May I have specific examples. Many Thanks.
May 11, 2012 at 1:29 pm #97439
Anonymous
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[/quote]revision kit
May 11, 2012 at 2:13 pm #97440
QIN
Member
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That’s why I asked the question here. I cant understand the concept from revision kit. Thanks.
May 11, 2012 at 5:47 pm #97441
Anonymous
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Audit assertion:
When you give an unmodified report, you are assuring the following (ACCA COVER):
1. Accuracy
2. Completeness
3. Classification
4. Allocation
5. Cut off
6. Occurrence
7. Valuation
8. Existence
9. Rights and obligation
Check opentuition course notes for the meaning of these.
Objective of an audit:
To give an independent opinion about the truth and fairness of the financial statements.
This opinion is based on audit assertions. Al audit procedures conducted are to assure these nine assertions.
May 12, 2012 at 2:46 am #97443
QIN
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Thanks 🙂
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