Hello
Can anybody help me in this,
What is the meaning of assertion,as it is used in auditing book again and again, but i dont know what exactly is assertion in the terms of audit, as used in chapter 2 in study material CA Final, under heading Formulating an audit programme, i.e. Assisstants should be able to identify the assertions made in the Balance Sheet and Profit & Loss Account because that provides key to the auditor's selection of the procedures.
Waiting for the reply
Menu
Auditing Query CA Final
Replies (4)
keep waiting coz i dont hve a reply..
Hi
Assertion means a statement or declaration without any evidence or support made.
There are some assumption (declaration) used at the time of making Profit and loss Account, Balance sheet or any other statement and these assumption are termed as assertions in Auditing.
U can search in dictionery!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!1
thnks rishi ...
Recent Topic
- Subscription/Membership fees
- Inverted tax gst refund
- Mismatch of pincode and district while registering
- Total income less than 12 lakhs but after processi
- Is Getsvision Solutions right for SMTP bulk email
- Queries on Stock/ETF gifting.
- Adding bank account for the deceased for ITR refun
- SALE OF EQUITY ON THE LAST DAY OF THE FY 2024-25 N
- Which ITR form
- Form 103 id delayed for submission for more than 1
Related Topics
CAclubindia
