Management makes all of the following assertions about the financial statements in general except a. The entity
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Management makes all of the following assertions about the financial statements in general except
a. The entity will continue as a going concern for a period of at least one year from the balance sheet date unless an exception to this assumption is disclosed.
b. Transactions summarized in the financial statements occurred between independent parties unless related party transactions are disclosed.
c. The entity has been operated efficiently unless exceptions to this assumption are disclosed.
d. The accounting principles used are not materially different from those used in the prior period unless a difference is disclosed.
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Related Book For
Auditing An Assertions Approach
ISBN: 9780471134213
7th Edition
Authors: G. William Glezen, Donald H. Taylor
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