03-02-2010, 09:34 PM
yes sir now i have understood this term
thank u very much.
actually i was confused that what is this assertion which i understood by first few lines of your in which u told me that management makes the Assertion (daawa) regarding particular item either of Account balances or of any of the above mentioned.
and then i understood that those Assertions (daawa) are deemed to be or presumed to be those assertions mentioned in ISA 500. for example,it is presumed from the management disclosure of inventory that management is claiming that inventory exist,rights and obligations are of the management,accuracy of amount and so on.
hence the Auditor has to verify these presumed or predefined Assertions of the management.
Am i Right sir? did i understand it right now.. if any further explanation required then its my pleasure to have that
nevertheless, Thank u very very much sir.
Regards
Qureshi Muhammad Zeeshan
thank u very much.
actually i was confused that what is this assertion which i understood by first few lines of your in which u told me that management makes the Assertion (daawa) regarding particular item either of Account balances or of any of the above mentioned.
and then i understood that those Assertions (daawa) are deemed to be or presumed to be those assertions mentioned in ISA 500. for example,it is presumed from the management disclosure of inventory that management is claiming that inventory exist,rights and obligations are of the management,accuracy of amount and so on.
hence the Auditor has to verify these presumed or predefined Assertions of the management.
Am i Right sir? did i understand it right now.. if any further explanation required then its my pleasure to have that
nevertheless, Thank u very very much sir.
Regards
Qureshi Muhammad Zeeshan
