Question 2 m habibi rossi d 265265 17034

Question 2 m habibi rossi d 265265 17034 - specified date...

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Question 2 Comment the limitations of the evidence that Evidential matter procedures provide with regard to the management assertion of existence? Answer : The assertion on existence is made to check whether the specified assets and liabilities are present at the given date. It is also required to check that the transactions that are recorded took place at the
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Unformatted text preview: specified date. In order to test these items of the financial statement, it is not sufficient that only books are consulted which record the assets or the liabilities. There should be proof of the existence of the physical assets or liability. For checking existence help is also sought from outside....
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