Define what is meant by a management assertion about financial statements.

Management assertions are objectives that must be met before an auditor can give an opinion

and say the financials are complete and accurate.

Management assertions are implied or expressed representations by management about

classes of transactions and the related accounts and disclosures in the financial statements.

Management assertions are the implied representations agreed upon by the auditors or

management about the completeness of the financial statements.

Management assertions are audit procedures agreed upon by the auditors and management

that relate to the preparation of the financial statements.