Standard Audit Process — Theory and Concepts


The financial statements could be viewed as an assembly of assertions by management. For group financial statements, SAS No. 80 (Section 326) outlines the following broad categories:
  • Existence and occurrence

  • Completeness

  • Rights and obligations

  • Valuation or allocation

  • Presentation and disclosures


Balance Sheet Intangible Asset Account Review Audit Objective Audit Procedure 
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© Betriebswirtschaftlicher Verlag Dr.Th. Gabler | GWV Fachverlage GmbH, Wiesbaden 2008

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