Explain the importance of audit assertions for financial statement audits. Define each of the following types of

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Explain the importance of audit assertions for financial statement audits. Define each of the following types of assertions:

• Existence

• Occurrence

• Completeness

• Cutoff

• Accuracy

• Rights and obligations

• Valuation or allocation

• Understandability

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Auditing a business risk appraoch

ISBN: 978-0324375589

6th Edition

Authors: larry e. rittenberg, bradley j. schwieger, karla m. johnston

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Question Posted: Dec 29, 2012 05:54 AM

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Explain the importance of audit assertions for financial statement audits. Define each of the following types of

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The assertions form the framework for gathering sufficient competent audit evidence as required by t...View the full answer

Auditing a business risk appraoch

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