What does the word "Assertion" and "Assertion Level" means, I am facing difficulty in understanding these word and these are frequently been used in SA's.
Menu
Audit query
Replies (2)
In simple words ascertions means statements made by the management in relation to account balance, class of transaction and disclosure of items in the financial statements. Various ascertion levels are existence, ownership, rights over assets or liabilities, valuation, disclosure, valid booking of entries etc
Assertions means Details given by management personnal for audit for all the details...and i agree with Ajith Hedge
Recent Threads
- Upload error for ITR 2 filing after validation
- CCI Forum gets fresh Look ! Share your views
- Presumptive taxation 44AD BLOCK PERIOD
- FORM 27Q FILING
- TDS for Advance Maintenance
- GST on product purchased at MRP
- TDS on Joining Bonus
- How to complete form10E Table details for the year
- How to submit ITR for old F&O losses
- Can an Software Engineer be termed as a workman an
Related Threads
CAclubindia
