Dear Sir/Mam
Can you plz explain me, what does an assertion and susceptibility of an assertion mean.
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INHERENT RISK
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Assertion means if management give assertion on some information that means that info. is prepared with all due diligence i.e with acceptable police, accounting policies, accounting method e.t.c. &. when that info. taken by auditor then he must be susceptible toward given info.(assertion) , because it may be wrong because of inherent risk.
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