Assume that you are an auditor of a company. Explain any THREE categories of assertions that you will be testing when auditing the financial statements of the company. You are required to: (i.) Mention the name of the company you will be auditing along with the industry to which it belongs to. (ii.) List the category of assertions (3 assertions) along with the element of a financial statement that will be checked. (iii.) Explain in detail the procedure adopted for collecting the audit evidence that you have mentioned in relation to question no. (ii.) with proper justification and two sample transactions.
Assume that you are an auditor of a company. Explain any THREE
categories of assertions that you will be testing when auditing the financial
statements of the company.
You are required to:
(i.) Mention the name of the company you will be auditing along with the industry
to which it belongs to.
(ii.) List the category of assertions (3 assertions) along with the element of
a financial statement that will be checked.
(iii.) Explain in detail the procedure adopted for collecting the audit evidence that
you have mentioned in relation to question no. (ii.) with proper justification and
two sample transactions.
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