Below are listed three internal controls. State the assertion at which each one is aimed.

(i) The client uses prenumbered documents for purchases. Periodically a clerk performs a sequence check.

(ii) Sales are subject to a credit check before they are processed.

(iii) A second clerk check that account coding's on source documents are in accordance with the entity’s chart of accounts.

Answer rating: 100% (QA)

Assertions are representation made by the management in the financial statements on which the audito... View the full answer