According to PCAOB Auditing Standard No

question 57

Multiple Choice

According to PCAOB Auditing Standard No. 2201 ( AS 2201) , the auditor should identify significant accounts and disclosures and their relevant assertions. Which of the following financial statement assertions is not explicitly identified in AS 2201?

• A)Completeness.
• B)Valuation or allocation.
• C)Accuracy.
• D)Existence or occurrence.
• E)All of these are assertions identified in AS 2201.

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Definitions:

Self-Monitoring

The process of paying close attention to one's own behavior and using these observations to shape and control one's actions.

Narcissism

A personality characteristic involving grandiosity, an excessive need for admiration, and a lack of empathy for others.

Longitudinal

A type of research study or analysis in which data is collected from the same subjects repeatedly over a period of time to observe changes or developments.

Cross-Sectional

A research design that involves analyzing data from a population, or a representative subset, at one specific point in time.