23 paragraphs found
… Controls can be either directly or indirectly related to an assertion. The more indirect the relationship, the less … or detecting and correcting, misstatements in that assertion. For example, a sales manager’s review of a … ordinarily is only indirectly related to the completeness assertion for sales revenue. Accordingly, it may be less …
… Risks of material misstatement at the assertion level for classes of transactions, account … timing, and extent of further audit procedures at the assertion level necessary to obtain sufficient appropriate … and assessing risks of material misstatement at the assertion level, the auditor may conclude that the …
… When making assertions about the financial report of public sector entities, in addition to those assertions set out in paragraph A128 , management or those … in accordance with law, regulation or other authority. Such assertions may fall within the scope of the financial report …
… the financial report as a whole and potentially affect many assertions. Risks of this nature are not necessarily risks identifiable with specific assertions at the class of transactions, account balance, or … that may increase the risks of material misstatement at the assertion level, for example, through management override of …
… activities may have a specific effect on an individual assertion embodied in a particular class of transactions or … inventory relate directly to the existence and completeness assertions for the inventory account balance. …
… or detect and correct, material misstatement in specific assertions. Generally, it is useful to obtain an understanding of controls and relate them to assertions in the context of processes and systems in which …
… order to assess the risks of material misstatement at the assertion level and design further audit procedures … balance, and disclosure in the financial report or to every assertion relevant to them. (Ref: Para. A93-A106) …
… whether due to fraud or error, at the financial report and assertion levels. …
… charged with governance implicitly or explicitly makes assertions regarding the recognition, measurement and …