Andy Szypula, the Audit Manager, Was Explaining to His New

question 38

Multiple Choice

Andy Szypula, the audit manager, was explaining to his new audit team how management assertions work when assessing the risk of material misstatements. He made two statements to
His audit team:
Auditors use assertions for account balances.
Auditors use assertions for presentations and disclosures.
Which of these statements were true?

• A) (i) only
• B) (ii) only
• C) both (i) and (ii)
• D) neither (i) nor (ii)

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Definitions:

Normative-Stage

Indicates a phase in human development that is considered typical or standard based on cultural or societal norms.

Timing-Of-Events

The chronological sequencing or scheduling of occurrences, which can impact outcomes in various contexts including psychological development.

Major Predictable

Significant events or outcomes that can be anticipated based on current knowledge or patterns.

Normative-Stage

A concept in developmental psychology referring to predictable patterns and changes that occur in individuals throughout their life.