The International Organisation of Supreme Audit Institutions (INTOSAI) deals with the auditor`s responsibility to design and perform audit procedures in pursuit of gathering audit evidence in an audit of financial statements. Audit evidence comprise both information that supports and corroborates management`s assertions and any information that contradicts such assertions.

Required

With the aid of examples, discuss the major assertions that may be made or implied by the management for the purposes of an audit

Answer rating: 100% (QA)

In the context of an audit of financial statements management makes assertions about various aspects of the financial information presented These asse... View the full answer