Assertions in Auditing - Overview, Importance, and Types
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Transaction Level AssertionsAccount Balance AssertionsPresentation and Disclosure AssertionsAccount balance assertions apply to the balance sheet items, such as assets, liabilities, and shareholders’ equity. There are four types of account balance assertions: 1. Existence: The assets, equity balances, and liabilities exist at the period ending time. 2. Completeness: The assets, equity balances, and the liabilities that are completed and s...See more on corporatefinanceinstitute.comExplore further Account balance assertions apply to the balance sheet items, such as assets, liabilities, and shareholders’ equity. There are four types of account balance assertions: 1. Existence: The assets, equity balances, and liabilities exist at the period ending time. 2. Completeness: The assets, equity balances, and the liabilities that are completed and s...
Account balance assertions apply to the balance sheet items, such as assets, liabilities, and shareholders’ equity. There are four types of account balance assertions: 1. Existence: The assets, equity balances, and liabilities exist at the period ending time. 2. Completeness: The assets, equity balances, and the liabilities that are completed and s...
DA: 98 PA: 96 MOZ Rank: 16
