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
- Payment to foreign national
- Internal reconstuction
- IDS Refund – Annexure B & GSTR-3B Match,
- Can i should STCG and LTCG as business income ?
- Capital contribution in Firm
- Form 3CD – Clause 20(b) | ESI Contribution &
- Capital Gains on Dissolution of Partnership
- GST Payment through DRC-03 by cash against notice
- Schedule EI for ITR1
- INCOME TAX DEPARTMENT: DOUBLE STANDARDS
Related Topics
CAclubindia
