Question: Professional auditing standards identify the management assertions that commonly underlie a set of financial statements. Which of these assertions were relevant to Paragons construction projects?

Professional auditing standards identify the “management assertions” that commonly underlie a set of financial statements. Which of these assertions were relevant to Paragon’s construction projects? For each of the assertions that you listed, describe an audit procedure that Arthur Andersen could have employed to corroborate that assertion.

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I have not attempted to identify every management assertion relevant to Paragons construction projects Instead this suggested solution lists what I believe were several key management assertions for t... View full answer

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