Why are the financial statements referred to as the embodiment of managements assertions about the financial results

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Why are the financial statements referred to as the embodiment of “management’s assertions” about the financial results of a company? What does the concept of management assertions imply regarding

(a) management’s responsibility for the financial statements and

(b) the auditor’s responsibility for the financial statements?

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Auditing Concepts For A Changing Environment With IDEA Software

ISBN: 9780324180237

4th Edition

Authors: Larry E. Rittenberg, Bradley J. Schwieger

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Question Posted: May 07, 2024 05:00 AM

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Why are the financial statements referred to as the embodiment of managements assertions about the financial results

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The financial statements are often referred to as the embodiment of managements assertions because t...View the full answer

Auditing Concepts For A Changing Environment With IDEA Software

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