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The "Completeness" assertion about classes of transactions and events indicates that transactions and events that have been recorded have occurred and pertain to the entity.
The "Occurrence" assertion about Presentation and Disclosure indicates that disclosed events and transactions have occurred.
A Negative Assurance like the following "Nothing came to our attention that caused us to believe that the client failed to comply with the terms, covenants, provisions or conditions of the Bond Indenture is an example of a "Review" report.
Analytical procedures include the consideration of comparisons of the entity's financial information with comparable information for prior periods.
Workpapers provide evidence of the auditor's basis for concluding on the achievement of the auditor's overall objectives.
In a Financial Statement Audit, auditors undertake to gather evidence and provide a high level of assurance that the financial statements follow GAAP.
Business Risk is risk associated with a company's surval and profitability and Auditing has a substantial affect on Business Risk.
The risk that information is misstated is referred to as Information Risk.
An Integrated Audit performed under Sarbanesoxley Act requires that Auditors report issue an opinion on both the client's financial statements and effectiveness of the client's internal control.
