Management Assertions Now that you have taken part in much of the planning work for the Eagle View engagement, Ms. Crawford is curious to know if you can summarize your work as it relates to specific accounts and processes. Write a memo (P - 17) that identifies the specific management assertions for each of the account categories on the income statement and balance sheet and the related key risks. You may focus first on either transaction processes or accounts. However, you will need to address both sets of assertions. As an example, the first assertion for the first account category is described below. You may use this as a guide to the remaining assertions for Cash as well as the other accounts. You may use Tables 5 - 1 through 5 - 3 in your textbook as a guide to the management assertions. ACCOUNT / GENERAL APPLIED ASSERTION KEY RISKS TRANSACTION ASSERTION Cash Existence The cash listed on the balance The cash has been stolen or sheet is actually on hand or in a purposely overstated to hide a bank. weak financial position. Cash Completeness