There are seven separate assertions in the audit of cash.

Question

Quizplus · Accepted Answer

The number of assertions in the audit of cash, as in other areas of an audit, typically revolves around the primary assertions outlined by auditing standards, which are existence, rights and obligations, completeness, valuation and allocation, and presentation and disclosure. The exact number can vary based on the specific auditing framework being applied, but it is generally not limited to seven.

There Are Seven Separate Assertions in the Audit of Cash