What Are the Benefits of Considering Management Assertions in the Audit

question 109

Multiple Choice

What are the benefits of considering management assertions in the audit process?

• A)Assertions help guide the procedures conducted by auditors.
• B)Assertions guarantee that fraud will be found.
• C)It is possible to eliminate audit risk when assertions are used.
• D)Assertions eliminate the risk that inventory will be stolen.

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Definitions:

Empathy

The ability to understand and share the feelings of another, crucial in therapeutic and personal relationships for effective communication.

Genuineness

Being authentic and true in one’s feelings and expressions in a therapeutic or interpersonal relationship.

Positive Regard

This term describes a basic acceptance and support of a person regardless of what the individual says or does, especially in the context of client-centered therapy.

Facilitative Conditions

Environmental or interpersonal conditions that make a task easier to perform or facilitate the learning process.