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Unformatted text preview: estimated to be realized Rights & Obligations liabilities incurred before they are recorded Existence - amounts included exist Completeness- existing amounts are included Accuracy - amounts included are stated at the Classification - amounts included in the client's Cutoff - transactions near the balance sheet date are Detail Tie-in - details in the account balance agree with Realizable Value - assets are included at the amounts Timing- transactions are recorded on the correct dates Rights & Obligations - assets must be owned and Management's Assertions & Audit Objectives - 3 of 3 Managements Assertions About Presentation & Disclosure Audit Objectives Occurrence and Rights & Obligations Occurrence and Rights & Obligations Completeness Completeness Valuation & Allocation Valuation & Allocation Classification & Understandability Classification & Understandability...
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- Spring '10