b.

For each specific transaction-related audit objective, identify the appropriate

management assertion.

c. For each specific transaction-related audit objective, identify the appropriate general
transaction-related audit objective.

Management assertions are representations by management regarding classes of transactions.

Audit
Generalpractice chapter
transaction - related oneenables
audit objectives …in deciding about particular audit
twoaudito
evidence necessity in satisfying management assertion. While , Specific transaction related
audit objectives are identified by auditor for each transaction cycle and for each general
transaction - related audit objective. It makes easy for auditor to make conclusion about
specific amount of evidence required.

Management assertion General transaction-related audit objective

a Completeness Completeness
b Accuracy Posting and summarization

c Accuracy Posting and summarization

d Occurrence Occurrence
e Classification Classification
f Cutoff Timing

6-33 (OBJECTIVE 6-10) The following (1 through 18) are the balance-related,
transaction-related, and presentation and disclosure-related audit objectives.

Balance-Related Audit Objectives

1. Existence

2. Completeness

3. Accuracy 4 out of 6 Share

4. Classification