Accounting
This statement provides a summary of a company's financial performance over a specific period.
Income
This type of audit evidence consists of documents provided by external parties to support financial transactions.
External
This principle states that expenses should be matched with the revenues they help to generate.
Matching
This term refers to the potential for financial loss or misstatement due to inadequate internal controls.
Risk
This ratio measures a company's ability to pay short-term obligations, calculated as current assets divided by current liabilities.
Current Ratio
This assertion confirms that the financial statements include all transactions and events that should be recorded.
Completeness