what exactly mean by Assertions??? and what is Assertions at Account Balances and class of transactions ???
See these links
what do we mean by term assertion level as used many time in sa 500 sa 300 sa 315
What exactly do we mean by ASSERTION LEVEL? You mentioned that risk is identified @ assertion level. For instance, assertion for Fixed asset i.e. its existence, completeness, etc, how can it be identified while seeing FST? you also said that if there is high risks involved in these features, we will be careful about those while conducting audit. But how can we know whether there is high risk of misstatement in such assertions, just by seeing FST?