Dear Sir/Mam
Can you plz explain me, what does an assertion and susceptibility of an assertion mean.
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INHERENT RISK
Replies (1)
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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