ACCA考试科目F8 Assertions ？

ACCA考试科目F8 Assertions


What is the purpose of categorising theassertions (completeness, accuracy etc) under classes of transactionsand events, account balances, and presentation anddisclosure?

The accounts of a company are made up of facts and fiction. The facts are those things which you can easily verify and determine to exist (e.g. purchase of machinery). The fiction are those things which are not so easily verifiable (such provisions and contingencies).

As an auditor you need to ensure that the facts are truthful and the the fiction is fair (hence true and fair). You do this by looking at the assertions which underlie all accounts (e.g. That an asset was bought and is in use – existence, that it cost $1mill – accuracy, that it was bought in the year in question and not after – completeness, that the company has unhindered use of the asset – rights and obligations, and that they state all relevant information regarding the accounts as per the standards – presentation).