For each management assertion, determine what can go wrong. That is, if you identified Rights and Obligations as a relevant assertion, what could go wrong that management would be wrong about the rights or obligations? Then identify the control you would want to see to minimize the risk of that thing happening. Finally, how would you test that the control was operating as designed? For each management assertion, determine what can go wrong. That is, if you identified Rights and Obligations as a relevant assertion, what could go wrong that management would be wrong about the rights or obligations? Then identify the control you would want to see to minimize the risk of that thing happening. Finally, how would you test that the control was operating as designed