The important assertion(s) for revenue is (are): (a) Occurrence, because testing needs to ensure that recorded sales
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The important assertion(s) for revenue is (are):
(a) Occurrence, because testing needs to ensure that recorded sales are genuine.
(b) Never completeness, because a company would never want to understate its revenue.
(c) Completeness when there could be pressure to defer sales recognition to give the company a head start on meeting the next year’s target.
(d) Both (a) and (c).
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Related Book For
Auditing A Practical Approach
ISBN: 978-1118849415
2nd Canadian edition
Authors: Fiona Campbell, Robyn Moroney, Jane Hamilton, Valerie Warren
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