Management's assertions in the financial statements are of relevance to the audit process because a. they are the procedures that will be performed by the audit team. b. they are utilized by auditors in developing proper tests and procedures c. they are direct evidence that management has prepared financial statements in accordance with GAAS. d. they relate more to the audit while the financial statenent belong to the author.
Management's assertions in the financial statements are of relevance to the audit process because a. they are the procedures that will be performed by the audit team. b. they are utilized by auditors in developing proper tests and procedures c. they are direct evidence that management has prepared financial statements in accordance with GAAS. d. they relate more to the audit while the financial statenent belong to the author.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Management's assertions in the financial statements are of relevance to the
a. they are the procedures that will be performed by the audit team.
b. they are utilized by auditors in developing proper tests and procedures
c. they are direct evidence that management has prepared financial statements in accordance with GAAS.
d. they relate more to the audit while the financial statenent belong to the author.
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