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1. Auditors do not check 100% of transactions/balances. How do auditors decide what to check and which areas to focus on? Think of some examples

1. Auditors do not check 100% of transactions/balances. How do auditors decide what to check and which areas to focus on? Think of some examples of the areas auditors would focus more on and why.

2. What are assertions in relation to audits of financial reports? Who makes these assertions?

3. What are the two categories of assertions and what are the assertions in each category?

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