Free IIA-CFSA Web TestEngine Demo

Q27 Single choice

The purpose of audits of financial statements is to issue an opinion on the fairness of the financial

statements and to evaluate all of the following assertions (explicit or implicit) by management EXCEPT:

A
Existence or occurrence assertions address whether available information addresses actualtransactions, assets, and liabilities
B
completeness assertions address whether all material financial information is included infinancial statements
C
Rights and obligations assertions address whether the entity has legal rights to the assets andobligations to the liabilities disclosed on the financial statements
D
Presentation and disclosure assertions address whether the elements of the financialstatements are properly organized, classified and disclosed

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