Assurance and Risk 2026/2027 – Comprehensive Study Guide & Practice Questions

Assurance and Risk 2026_2027 Assurance
– Comprehensive
and Risk 2026_2027
Study GuideAssurance
–
& Practice
Comprehensive
and
Questions.pdf
Risk 2026_2027
Study Guide–
& Practice
Comprehensive
Questions.pdf
Study Guide & Practice Questions.pdf




Assurance and Risk 2026/2027 –
Comprehensive Study Guide & Practice
Questions




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Assurance and Risk 2026_2027 Assurance
– Comprehensive
and Risk 2026_2027
Study GuideAssurance
–
& Practice
Comprehensive
and
Questions.pdf
Risk 2026_2027
Study Guide–
& Practice
Comprehensive
Questions.pdf
Study Guide & Practice Questions.pdf

,Assurance and Risk.pdf Assurance and Risk.pdf Assurance and Risk.pdf




Acronym for SPL Assertions


OCCA
- Occurrence
- Completeness
- Cut-Off
- Accuracy


SPL Assertions


Occurrence (Checking if the transactions that have been recorded have actually occurred)
Completeness (All transactions that should have been recorded have been recorded)
Cut-Off (Transactions have been recorded in the correct period)
Accuracy (Amounts have been recorded appropriately)




Assurance and Risk.pdf Assurance and Risk.pdf Assurance and Risk.pdf

,Assurance and Risk.pdf Assurance and Risk.pdf Assurance and Risk.pdf




Acronym for SFP Assertions


CERV
- Completeness
- Existence
- Rights and obligations
- Valuation, accuracy and allocation




Assurance and Risk.pdf Assurance and Risk.pdf Assurance and Risk.pdf

, Assurance and Risk.pdf Assurance and Risk.pdf Assurance and Risk.pdf




SFP Assertions


Completeness (All transactions that should have been recorded have been recorded)
Existence (assets, liabilities, equity interest actually exist)
Rights (The entity owns the assets and liabilities are the entity's obligation)
Valuation (All assets, liabilities and equity interest are included in the FSs at an appropriate
amount)


2 extra assertions in both SPL and SFP


Classification (presented and grouped properly)
Presentation (things are correctly disclosed)


Limited Assurance


-moderate/lower level of assurance
-conclusion expressed negatively




Assurance and Risk.pdf Assurance and Risk.pdf Assurance and Risk.pdf