You have been a life saver this whole semester! I wanted to THANK YOU for what you do; the detail, creativity and enthusiasm in every single one of your videos has helped me tremendously.
I'm so glad I found your channel! I'm currently studying auditing and your videos are super helpful. Thank you so much, from a student in Auckland, NZ :)
have my acca advanced audit and assurance exam coming up next month, and these short videos are really helpful, your tip about designing substantive procedures was to make a table Accuracy Completeness Cut-off Allocation Classification Occurance Valuation Existence Rights and Obligations Analytical Enquiry/confirmation Inspection Observation recalcUlation this was a lifesaver in my previous exam
Assertions are the whole key to identifying risks of material misstatement. Thanks Amanda. I think the old 5 assertions had the virtue of being easier to remember. But the 13 are more complete. Important to distinguish between the balance sheet and income statement assertions, to keep clearer in your head.
Thank you Ms Amanda, u may not know that u actually have helped me soooooo much!!!! After i watched your video, i am able to understand more on the assertions theory!!
Thank you for making these videos :) It's so much easier to watch and understand with your charisma than listen to recorded powerpoints of my monotone online professor
This was a really great and informative video thank you Amy. It really summed up the work perfectly. I will definitely be looking for more of your videos as I continue my studies. 😉🇿🇦
I am amazed at the way you simplify Auditing, I just hope I did not waste my money on tuition providers are complicating the whole subject. Thank you for your videos.
You are one gifted lecturer. I have been memorizing assertions all these time without truly knowing what they really mean. Is it fair to say when management hand over the financial statements to the auditors they are asserting it is true and fair and free from material misstatements. The auditor in turn says really ? Let me check if indeed what you are asserting is true. So they check if transactions occured, if they are complete,if the dollar value is accurate, if it's in the right FY, if transactions are categorized in the correct class and well presented in accordance to the applicable accounting standard. Then do the same to the balance sheet figures.
Thank you so much, you are absolutely brilliant in how you explain things and present them in your videos. I am an Accounting major so Auditing is kinda boring to me, however you are making it very understandable and likeable. 😊😊😊 Thank you 🎉
terimaa kasihh amanda untuk videooo yang sangat membantu ini ,jika tidak kerana mu aku akan kesukaran dalam melakukann audit.Impian ku menjadi auditor seperti kamu
Hi Amanda - I was wondering if you can show a video explaining relevant assertions being tested? My understanding is all assertions will be tested one way or another. However, there will always be assertion(s) the auditor will focus around as this is most efficient and effective to conduct the audit e.g. focusing procedures such as unrecorded liabilities and performing recalculation on a sample recorded in the subledger when testing the assertions: C and A&A for accruals?
Hi! I have lots of content in this area - check out the “Gathering evidence” section of my audit study guide. I have many worked examples of how we’d test substantively for the assertions over different accounts and companies ☺️ amandalovestoaudit.com/learning-resources/audit-study-guide/gathering-audit-evidence/
Sort of. Mgmt’s “assertions” are the numbers they put forward to us. They assert this is the true financial position of the company. We then test their assertions against our audit assertions. Does that help clarify?
@@amandalovestoaudit our audit assertions as in existence, completeness, accuracy and valuation of transactions and account balances etc? (Thank you for your help Ma'am)
Thanks so much for your videos Amanda. It's really helping me in my preparations for my Audit Paper in March this year. I would like to know when to apply Assertions in answering questions. Are they linked to when you conducting Test of Controls or when carrying out Substantive testing?...So the Question is When and How is "assertion" applied during an audit work. Thank you
Hi YD - you generally focus on assertions during substantive testing, but in my latest video - there is one way that they can be used for internal controls when trying to detect weaknesses.
Thank you for your videos! I was wondering how ITGC controls would relate to these financial statement assertions? What are good examples where they would be relevant?
Your videos are always very clear Amanda, keep up the good work! Could you also provide videos regarding the subjects for Chartered Accountants like Taxation and management? I am thinking of getting mine soon.
Hi Shoppergal - unfortunately I'm not a subject matter expert in tax and management accounting. I will see if anyone I know is making content in this area and see what I can recommend
Are assertions applicable to an organization's policies? A non-matching policy can materially affect an organization. Right? Like stay home policy did to businesses & economies. You are ever appreciated. Thanks
hello Amanda im looking at the account of intellectual property. which would you say is the key assertion from the balance assertion. would i be correct in saying rights and obligations(holds control and rights to intangibles) and also accuracy, valuation and allocation (intellectual property estemation uncertainty).... would existance apply or only to tangibles?
Hi! A great question - I’d actually say that Existence & R+O are equally where you’d start and they go together. Examining patents etc would help you do both. And then AVA
#Assertions, I do remember when i was very new to the #audit, this particular word irritated me alot. Because everyone was giving me the examples of #assertions and they never gave me the exact meaning. Hope this will help New one(s).
You have been helping me pass my audit class all throughout my CPA process in Canada :) Thank you!
Congratulations!! And I’m glad you’re finding the videos helpful ☺️
I am doing my CPA in Canada as well! 😊
@@amandalovestoaudit thanks Amanda
GO Sami GO
You have been a life saver this whole semester! I wanted to THANK YOU for what you do; the detail, creativity and enthusiasm in every single one of your videos has helped me tremendously.
This is definitely the best explanations of Assertions on youtube, priceless content, hats off.
Thank you, you're so good at explaining things clearly and quickly!
You are serving for those who can't afford tuition.hatts off
Thank you - comments like these are what makes it worthwhile 🙏😊
Ur the torchbearer in Audit teaching... I am a big fan of u
Thank you so much Pradeep for those kind words!
Simple video making concepts crystal clear.
You make it should interesting. I like the way you explained the assertions.
Thank you Sneha :) Good luck in your studies :)
I'm so glad I found your channel! I'm currently studying auditing and your videos are super helpful. Thank you so much, from a student in Auckland, NZ :)
Thankyou for making it clear. Glad I found your videos
have my acca advanced audit and assurance exam coming up next month, and these short videos are really helpful, your tip about designing substantive procedures was to make a table
Accuracy Completeness Cut-off Allocation Classification Occurance Valuation Existence Rights and Obligations
Analytical
Enquiry/confirmation
Inspection
Observation
recalcUlation
this was a lifesaver in my previous exam
Excellent to hear!
Is this Tip in this video or its in another video. I will be seating for ACCA Audit exam
@@graciousfesto350 m Azzaro! :% "':) :9.
!
From South Africa Thank you @ AmandaLovestoAudit very insightful beyond
Great thanks my sister Amanda
Well simplified.
Thank you
Absolutely .... precise yet informative
Thanks Mohamed!
Thanks a lot! You made it so clear! Greetings from Baku, Azerbaijan 🇦🇿
You're so welcome Nana - thanks for studying with me 😊
I've been looking for a channel like this for ages, I found your contents very helpful, Thank you
Thank you!
Assertions are the whole key to identifying risks of material misstatement. Thanks Amanda. I think the old 5 assertions had the virtue of being easier to remember. But the 13 are more complete. Important to distinguish between the balance sheet and income statement assertions, to keep clearer in your head.
Thanks James! And you are spot on - without assertions we are just guessing!
Thanks for the effort to make all the auditing videos. Very useful.
You’re very welcome 😊
omg i finally understand this topic T_T like really understand it all not by memorising it T_T thank you so much lovely Amanda!!
Yay! Better to understand than memorise 😊
Thank you, I have been struggling with assertions but you made it easy to understand
You’re so welcome ☺️
Thanks alot Amanda, you really make auditing very easy
Am an Accounting final year student of Bsc. I use u like my inspiration to grow in the Accounting Industry
Thanks alot
Very clear explanation!!Thank you for this 😀
Thank you for these videos! You are really great at presenting material so it makes sense.
And your kids are super cute!
Thanks Megan!
Thank you Ms Amanda, u may not know that u actually have helped me soooooo much!!!! After i watched your video, i am able to understand more on the assertions theory!!
That is so great to hear!!!
Excellent elaboration
i love all of your videos! it really helps me a lot🙌🏻
Thank you Rindaldo!
Thank you for making these videos :) It's so much easier to watch and understand with your charisma than listen to recorded powerpoints of my monotone online professor
Thank you Lauren!
Thank you Amanda for your great videos. Your concepts are really helpful and guide me so well in my exams . Awesome work ❤️❤️❤️
High Quality content!
You are an amazing teacher! Thumbs up lady. 😘💫👍🏾
Awww thank you Sarah! 🙏❤️
hii
Thank you Amanda !!!!
You're very welcome Erin!
This was a really great and informative video thank you Amy. It really summed up the work perfectly. I will definitely be looking for more of your videos as I continue my studies. 😉🇿🇦
You’re so very welcome - good luck in your studies!
I am from India, a CA aspirant.
Your videos are helpful in my studies. Thank You
Thank you! Well explained
good work Amanda.
thank you, cheers
Thank you for watching Sachinmaya 🙏
Who else is a big 4 auditor watching this while trying to complete a audit lol.
Lol - perhaps firms should be including this in their "just in case" training materials 😂
EY's auditor here 😹🙋🏿♀️
Are you building a better working world ? 😮@@badgal_de_jesus
😂😂😂😂😂😂😂😂
Thank you so much! Your video is useful for me
I'm so glad! Thanks for watching :)
I am amazed at the way you simplify Auditing, I just hope I did not waste my money on tuition providers are complicating the whole subject. Thank you for your videos.
You’re welcome Xolani ☺️
thank you very much, this clear
You’re welcome!
Great explanation!
Wow! Thank you so much for this❤
Your explanation is perfect. Thank you so much. I feeling more confident going into my acca exam on monday :)
Good luck - you’ve got this 💪
how wonderfully u explain each n everything thanku so much for giving us such videos
You are very welcome! 😊
Thank you Amanda
helpful information thanks
Thank you Dr
You’re welcome ☺️
This topic was helpful for me. I'm from Liberia 🇱🇷
You are one gifted lecturer. I have been memorizing assertions all these time without truly knowing what they really mean.
Is it fair to say when management hand over the financial statements to the auditors they are asserting it is true and fair and free from material misstatements.
The auditor in turn says really ? Let me check if indeed what you are asserting is true.
So they check if transactions occured, if they are complete,if the dollar value is accurate, if it's in the right FY, if transactions are categorized in the correct class and well presented in accordance to the applicable accounting standard.
Then do the same to the balance sheet figures.
You are spot on! Understanding audit is a key to providing audits of high quality 😊
Greatest thanks, all is well 🙏
Thank you 😊
omg thank you so much for this!!!
You are very welcome 😊
Nice explanations
Precise nd effective....
❤❤❤❤❤
It has been very useful, Thank you so much :)
Thank you so much, you are absolutely brilliant in how you explain things and present them in your videos. I am an Accounting major so Auditing is kinda boring to me, however you are making it very understandable and likeable. 😊😊😊 Thank you 🎉
Helpful for me ❤
Thnx a lot for wonderful lectures.
World best Auditing lecturer
U r a gift of God 🙏🙏🙏
Awww thank you ☺️
U really rocked mam ....love with your lecture..... thanks a lot
thank you thousands times
You're welcome a thousand times!
Amanda helping me pass Audit
terimaa kasihh amanda untuk videooo yang sangat membantu ini ,jika tidak kerana mu aku akan kesukaran dalam melakukann audit.Impian ku menjadi auditor seperti kamu
Hi Amanda - I was wondering if you can show a video explaining relevant assertions being tested? My understanding is all assertions will be tested one way or another. However, there will always be assertion(s) the auditor will focus around as this is most efficient and effective to conduct the audit e.g. focusing procedures such as unrecorded liabilities and performing recalculation on a sample recorded in the subledger when testing the assertions: C and A&A for accruals?
Hi! I have lots of content in this area - check out the “Gathering evidence” section of my audit study guide. I have many worked examples of how we’d test substantively for the assertions over different accounts and companies ☺️
amandalovestoaudit.com/learning-resources/audit-study-guide/gathering-audit-evidence/
Thank you mam I got clarity on doubt thank you once again
For which course u tech mam
Huge respect from India
Any time Shivam ☺️
Thanks
Wow thank you so much! you actually made me understand it haha. I was struggling with this one. Thanks again!!
You’re welcome!
Great videos, both informative and inspiring.
Emotional navigation: diving into refund details and anticipated actions
I'm a CA student from India and you are amazing.
Thank you!
Amanda, what software do you use for recording? Also, the notes feature is awesome! What do you use for it?
Hi Maria - I’m recording my screen on my iPad Pro 😊
I love electronic note taking! I use OneNote at work, Notability for personal things and UA-cam.
Brilliant!
Thank you TJ!
thank you so much for this! much love from the Philippines
Thank you for watching!
Thank you for sharing.
Basically you can totally replace my totally useless lecturer…Yeah for free!
Thank you miss .. you follower from Nepal 🇳🇵🇳🇵🇳🇵🇳🇵
Thank you Shekhar!
Ma'am are these assertions made by the management when the auditor conducts the process of vouching and verification?
Love your videos!
Sort of. Mgmt’s “assertions” are the numbers they put forward to us. They assert this is the true financial position of the company. We then test their assertions against our audit assertions. Does that help clarify?
@@amandalovestoaudit our audit assertions as in existence, completeness, accuracy and valuation of transactions and account balances etc?
(Thank you for your help Ma'am)
Great staff, thank you!
May you also please do videos on ISAs or it is still safe to use the ones you made last year?
Hi Sisa! All the ones from last year are still good ☺️
@@amandalovestoaudit Okay lovely😊
Please could you do the practical aspect of what you thought using excel, thanks.
Thanks mam
You're very welcome!
Thanks so much for your videos Amanda. It's really helping me in my preparations for my Audit Paper in March this year. I would like to know when to apply Assertions in answering questions. Are they linked to when you conducting Test of Controls or when carrying out Substantive testing?...So the Question is When and How is "assertion" applied during an audit work. Thank you
Hi YD - you generally focus on assertions during substantive testing, but in my latest video - there is one way that they can be used for internal controls when trying to detect weaknesses.
Thank you for your videos! I was wondering how ITGC controls would relate to these financial statement assertions? What are good examples where they would be relevant?
What is the difference between allocation and classification?
The future of Binance: an exclusive interview with the CEO
Your videos are always very clear Amanda, keep up the good work! Could you also provide videos regarding the subjects for Chartered Accountants like Taxation and management? I am thinking of getting mine soon.
Hi Shoppergal - unfortunately I'm not a subject matter expert in tax and management accounting. I will see if anyone I know is making content in this area and see what I can recommend
@@amandalovestoaudit That would be great 😄
Are assertions applicable to an organization's policies? A non-matching policy can materially affect an organization. Right? Like stay home policy did to businesses & economies. You are ever appreciated. Thanks
Hi Ibrahim - it could be - as a way to determine whether internal controls are appropriate.
❤❤❤❤❤❤❤❤❤
Is there a significant difference between accounting framework used by the IFRS and Australian accounting standard
Very helpful thank you dr
You are so welcome!
Assertions
Binance's CEO opens up about future developments in an exclusive interview
Pwoli
hello Amanda im looking at the account of intellectual property. which would you say is the key assertion from the balance assertion. would i be correct in saying rights and obligations(holds control and rights to intangibles) and also accuracy, valuation and allocation (intellectual property estemation uncertainty).... would existance apply or only to tangibles?
Hi! A great question - I’d actually say that Existence & R+O are equally where you’d start and they go together. Examining patents etc would help you do both. And then AVA
#Assertions,
I do remember when i was very new to the #audit, this particular word irritated me alot.
Because everyone was giving me the examples of #assertions and they never gave me the exact meaning.
Hope this will help New one(s).
Thanks Sumeet - coming up next week will be some applied examples :)
What's on the horizon? Exclusive interview with Binance's CEO reveals future insights
thenkewww
System error: delivery to an invalid email confirmed!
Helpful but just like class I fell asleep.
😂😂😂
The kids are cute though lol.
Thanks! Makes up for their cheekiness and ability to find trouble 😂
kindly share your email
Hi - in my "About" info on my YT page - ua-cam.com/users/AmandaLovesToAuditabout