Assertion level?

Audit assertion mean

For BS: Completeness, Right & Obligation, Existence, Valuaion,  Presentation and Disclosure

For P&L: Completeness, Occurence, Measurement, Presentation and Disclosure

Each critical accounts in the financial statements are associated with above mentioned assertions and we assess the risk of material misstatement and fraud risk and accordingly we prepare audit program to mitigate risk.

For e.g

For Debtors: risk may be valuation of debtors i.e. recoverability

For Fixed Assets: Existence of FA

Fraus risk may be occurence of revenue, existence of debtors etc. You can refer SA 240 for fraud risk.

Hope it clarifies.

Regards

It means if the  financial statements are correct with regard to existence or occurrence of assets, liabilities or transactions, completeness of information in the financial statements, rights and obligations at a point in time, appropriate valuation or allocation, presentation, and disclosure