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Assertions are representations by management, explicit or otherwise, that are embodied in the financial statements. An auditor must obtain sufficient and appropriate evidence to support the financial statement assertions.

Audit defaults with four assertions: Completeness, Existence, Accuracy, and Valuation. Your firm may change or include other assertions. Additional assertions cannot be added by the engagement team.

Found only in work program documents, the Financial Statement Assertions area displays all available assertions and their abbreviations. This area is optional, and can be turned off for each work program. The assertions area may be turned off globally by your firm.

This online help system applies to all Caseware Audit, Review and Compilation products. Not all features are available in all products.