What are Management Assertions?
Management assertions are claims made by company management about the financial statements. Auditors use these assertions to design audit procedures and gather evidence. Both PCAOB (for public companies) and AICPA's ASB (for private companies) provide frameworks for categorizing these assertions. Click on any assertion below to see practical examples!
🔄 PCAOB vs AICPA's ASB Assertion Mapping
Click on any AICPA assertion label (purple badges) to see detailed examples. AICPA's ASB provides more granular assertions with specific examples for different transaction types and account balances.
| PCAOB Assertion | AICPA's ASB Assertion(s) | Focus |
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