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what are circularization like circularization of recieveable that seems new to me ?
any acronym for assertion as for audit procedure there is aeiou
2nd in audit procedure how to know if for a specific assertion which audit procedure necessary like if chooses occurence relative audit procedure for that then we state the reason for procedure rytCircularisation of receivables = write to customers ans ask them to confirm what they owe.
AEIOU is not an acronym for assertions it is an Acronym for how to gather evidence (Analytical procedures, Enquiry and confirmation, Inspection, Observation, recalcUlation and reperformance.
If asked to verify an assertion like Occurence, you have to think what type of evidence would give evidence for that. For occurence of sales transactions you would inspect copy invoices and orders and look for cash being received. etc.
i didnt said its an acroynm for assertion i said audit procedures btw thanku gromit 🙂
for assertion acronym would be acca cover
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