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What is the meaning of assertion in Auditing

In the chapter of Basic concept of Auditing, Assertion defined as "Assertion refers to representation by management, explicit or otherwise, that are embodied in the financial statement,as used by the auditor to consider the different type of potential misstatement that may occur" Could u plz explain a word assertion using this sentence.


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Benchmark to decide the materiality level

How to consider benchmark to decide the materiality level for the financial statement as a whole and how to determine appropriate order of percentage to be applied?


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Relation between materiality and degree of audit

How there is an inverse relation between materiality and degree of audit risk.Explain?


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SA 299

As per SA 299 joint auditors shall be jointly and severally responsible for some matters. If any of these matters reported by an auditor after the date of audit report then other joint auditors would not be responsible. My question is. Then the auditor who reported such is responsible for that matter. 


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Haphazard sampling

Will there be equal chance of selection of every item in haphazard sampling?


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ESOS to company directors

In ESOP when a director holds 8 percent of equity shares of a company and his spouse also holds 4 percent of equity shares in the company. So whether the company can further issue shares under Employee Stock Option Scheme to its director.


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