Assertions 1. Existence or Audit Objectives Audit Procedures To determine that receivables exist Occurrence and represent bona fide obligations 2. Rights and owed to the company as of the balance Obligations sheet date. To determine that all transactions 3. Completeness relative to receivables have been recorded in the proper accounting period. To determine that receivables are 4. Valuation or recorded and presented at proper Allocation amounts in accordance with PAS/PFRS. 5- Presentation and To determine that the receivables are Disclosure properly presented and classified in the balance sheet