Audit 101 - ASSERTIONS in plain English

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AmandaLovesToAudit

AmandaLovesToAudit

Күн бұрын

#Audit #Assertions
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Пікірлер: 161
@sami.ronin23
@sami.ronin23 4 жыл бұрын
You have been helping me pass my audit class all throughout my CPA process in Canada :) Thank you!
@amandalovestoaudit
@amandalovestoaudit 4 жыл бұрын
Congratulations!! And I’m glad you’re finding the videos helpful ☺️
@kierstonsaunders
@kierstonsaunders 3 жыл бұрын
I am doing my CPA in Canada as well! 😊
@GhaziaKitchen
@GhaziaKitchen 3 жыл бұрын
@@amandalovestoaudit thanks Amanda
@hamadhimam6428
@hamadhimam6428 Жыл бұрын
GO Sami GO
@andresaguayo5093
@andresaguayo5093 4 жыл бұрын
Thank you, you're so good at explaining things clearly and quickly!
@breezearoha
@breezearoha 3 жыл бұрын
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 :)
@delmi5195
@delmi5195 Жыл бұрын
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.
@ilkinmusayev2906
@ilkinmusayev2906 5 ай бұрын
This is definitely the best explanations of Assertions on youtube, priceless content, hats off.
@jazeerahak4720
@jazeerahak4720 4 жыл бұрын
Thank you Amanda for your great videos. Your concepts are really helpful and guide me so well in my exams . Awesome work ❤️❤️❤️
@athisakb7806
@athisakb7806 3 жыл бұрын
I've been looking for a channel like this for ages, I found your contents very helpful, Thank you
@amandalovestoaudit
@amandalovestoaudit 3 жыл бұрын
Thank you!
@BetinahChileshe
@BetinahChileshe Жыл бұрын
Thankyou for making it clear. Glad I found your videos
@Megan-Yoder
@Megan-Yoder 3 жыл бұрын
Thank you for these videos! You are really great at presenting material so it makes sense. And your kids are super cute!
@amandalovestoaudit
@amandalovestoaudit 3 жыл бұрын
Thanks Megan!
@rinaldosatria630
@rinaldosatria630 2 жыл бұрын
i love all of your videos! it really helps me a lot🙌🏻
@amandalovestoaudit
@amandalovestoaudit 2 жыл бұрын
Thank you Rindaldo!
@hollywood7120
@hollywood7120 3 жыл бұрын
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!!
@amandalovestoaudit
@amandalovestoaudit 3 жыл бұрын
That is so great to hear!!!
@jamesbennett1634
@jamesbennett1634 4 жыл бұрын
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.
@amandalovestoaudit
@amandalovestoaudit 4 жыл бұрын
Thanks James! And you are spot on - without assertions we are just guessing!
@agungparasara9261
@agungparasara9261 3 жыл бұрын
Thanks for the effort to make all the auditing videos. Very useful.
@amandalovestoaudit
@amandalovestoaudit 3 жыл бұрын
You’re very welcome 😊
@wandrag1430
@wandrag1430 2 жыл бұрын
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. 😉🇿🇦
@amandalovestoaudit
@amandalovestoaudit 2 жыл бұрын
You’re so very welcome - good luck in your studies!
@lembemseteka9011
@lembemseteka9011 11 ай бұрын
Thanks alot Amanda, you really make auditing very easy
@thabilekhwela8481
@thabilekhwela8481 2 жыл бұрын
Thank you, I have been struggling with assertions but you made it easy to understand
@amandalovestoaudit
@amandalovestoaudit 2 жыл бұрын
You’re so welcome ☺️
@snehas6702
@snehas6702 3 жыл бұрын
You make it should interesting. I like the way you explained the assertions.
@amandalovestoaudit
@amandalovestoaudit 3 жыл бұрын
Thank you Sneha :) Good luck in your studies :)
@0007CHIKU__Pradeepray
@0007CHIKU__Pradeepray 3 жыл бұрын
Ur the torchbearer in Audit teaching... I am a big fan of u
@amandalovestoaudit
@amandalovestoaudit 3 жыл бұрын
Thank you so much Pradeep for those kind words!
@brianjoseph2145
@brianjoseph2145 Жыл бұрын
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 🎉
@Cookprayeat
@Cookprayeat 2 жыл бұрын
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
@amandalovestoaudit
@amandalovestoaudit 2 жыл бұрын
Thank you Lauren!
@T.H.Man.
@T.H.Man. 3 жыл бұрын
Your explanation is perfect. Thank you so much. I feeling more confident going into my acca exam on monday :)
@amandalovestoaudit
@amandalovestoaudit 3 жыл бұрын
Good luck - you’ve got this 💪
@aaroacademy
@aaroacademy Жыл бұрын
Great videos, both informative and inspiring.
@lucadiana2226
@lucadiana2226 2 жыл бұрын
High Quality content!
@luwamzumara4361
@luwamzumara4361 2 жыл бұрын
Wow! Thank you so much for this❤
@mohammedasifuddin8422
@mohammedasifuddin8422 4 жыл бұрын
Absolutely .... precise yet informative
@amandalovestoaudit
@amandalovestoaudit 4 жыл бұрын
Thanks Mohamed!
@harindirumalka2066
@harindirumalka2066 9 ай бұрын
Very clear explanation!!Thank you for this 😀
@tyrakamarudin7106
@tyrakamarudin7106 3 жыл бұрын
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!!
@amandalovestoaudit
@amandalovestoaudit 3 жыл бұрын
Yay! Better to understand than memorise 😊
@shwetarathore8779
@shwetarathore8779 3 жыл бұрын
how wonderfully u explain each n everything thanku so much for giving us such videos
@amandalovestoaudit
@amandalovestoaudit 3 жыл бұрын
You are very welcome! 😊
@sachinmayakrishnan7432
@sachinmayakrishnan7432 3 жыл бұрын
good work Amanda. thank you, cheers
@amandalovestoaudit
@amandalovestoaudit 3 жыл бұрын
Thank you for watching Sachinmaya 🙏
@xolaniposwa2974
@xolaniposwa2974 2 жыл бұрын
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.
@amandalovestoaudit
@amandalovestoaudit 2 жыл бұрын
You’re welcome Xolani ☺️
@cristinamari082013
@cristinamari082013 2 жыл бұрын
Wow thank you so much! you actually made me understand it haha. I was struggling with this one. Thanks again!!
@amandalovestoaudit
@amandalovestoaudit 2 жыл бұрын
You’re welcome!
@noragondwe2706
@noragondwe2706 2 жыл бұрын
Thank you! Well explained
@enangbriney3863
@enangbriney3863 8 ай бұрын
Am an Accounting final year student of Bsc. I use u like my inspiration to grow in the Accounting Industry
@nanagasimova9546
@nanagasimova9546 3 жыл бұрын
Thanks a lot! You made it so clear! Greetings from Baku, Azerbaijan 🇦🇿
@amandalovestoaudit
@amandalovestoaudit 3 жыл бұрын
You're so welcome Nana - thanks for studying with me 😊
@senurijayawickrama6295
@senurijayawickrama6295 3 жыл бұрын
omg thank you so much for this!!!
@amandalovestoaudit
@amandalovestoaudit 3 жыл бұрын
You are very welcome 😊
@mohafzal2790
@mohafzal2790 4 жыл бұрын
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
@amandalovestoaudit
@amandalovestoaudit 4 жыл бұрын
Excellent to hear!
@graciousfesto350
@graciousfesto350 4 жыл бұрын
Is this Tip in this video or its in another video. I will be seating for ACCA Audit exam
@boitumelosereto3827
@boitumelosereto3827 2 жыл бұрын
@@graciousfesto350 m Azzaro! :% "':) :9. !
@wisemanemk
@wisemanemk 9 ай бұрын
From South Africa Thank you @ AmandaLovestoAudit very insightful beyond
@butterflyeffect828
@butterflyeffect828 4 жыл бұрын
U really rocked mam ....love with your lecture..... thanks a lot
@huongo7875
@huongo7875 3 жыл бұрын
Thank you so much! Your video is useful for me
@amandalovestoaudit
@amandalovestoaudit 3 жыл бұрын
I'm so glad! Thanks for watching :)
@amycool7499
@amycool7499 4 жыл бұрын
Precise nd effective.... ❤❤❤❤❤
@snezeloyenziwe2127
@snezeloyenziwe2127 2 жыл бұрын
It has been very useful, Thank you so much :)
@brianbenedict2975
@brianbenedict2975 2 жыл бұрын
Great explanation!
@saraheme5048
@saraheme5048 4 жыл бұрын
You are an amazing teacher! Thumbs up lady. 😘💫👍🏾
@amandalovestoaudit
@amandalovestoaudit 4 жыл бұрын
Awww thank you Sarah! 🙏❤️
@naveedshafiq2718
@naveedshafiq2718 3 жыл бұрын
hii
@Sunny-jj6tp
@Sunny-jj6tp 3 жыл бұрын
Who else is a big 4 auditor watching this while trying to complete a audit lol.
@amandalovestoaudit
@amandalovestoaudit 3 жыл бұрын
Lol - perhaps firms should be including this in their "just in case" training materials 😂
@badgal_de_jesus
@badgal_de_jesus 3 ай бұрын
EY's auditor here 😹🙋🏿‍♀️
@wishmithaweerawansha
@wishmithaweerawansha Ай бұрын
Are you building a better working world ? 😮​@@badgal_de_jesus
@Alif0910
@Alif0910 Жыл бұрын
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
@razamushahid
@razamushahid 3 жыл бұрын
You are serving for those who can't afford tuition.hatts off
@amandalovestoaudit
@amandalovestoaudit 3 жыл бұрын
Thank you - comments like these are what makes it worthwhile 🙏😊
@WithSeb
@WithSeb Жыл бұрын
Amanda helping me pass Audit
@tvrashid
@tvrashid 3 ай бұрын
I am from India, a CA aspirant. Your videos are helpful in my studies. Thank You
@erinburgess5864
@erinburgess5864 2 жыл бұрын
Thank you Amanda !!!!
@amandalovestoaudit
@amandalovestoaudit 2 жыл бұрын
You're very welcome Erin!
@Margaret__0y
@Margaret__0y 2 күн бұрын
Emotional navigation: diving into refund details and anticipated actions
@tj6544
@tj6544 3 жыл бұрын
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.
@amandalovestoaudit
@amandalovestoaudit 3 жыл бұрын
You are spot on! Understanding audit is a key to providing audits of high quality 😊
@xXnukerrrXx
@xXnukerrrXx 4 жыл бұрын
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?
@amandalovestoaudit
@amandalovestoaudit 4 жыл бұрын
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/
@chikeungchan2896
@chikeungchan2896 Жыл бұрын
Excellent elaboration
@linsanity626
@linsanity626 Жыл бұрын
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?
@buredtx
@buredtx 4 жыл бұрын
Thank you for sharing.
@huskyfam7732
@huskyfam7732 3 жыл бұрын
thank you so much for this! much love from the Philippines
@amandalovestoaudit
@amandalovestoaudit 3 жыл бұрын
Thank you for watching!
@yankeedoodle3485
@yankeedoodle3485 3 жыл бұрын
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
@amandalovestoaudit
@amandalovestoaudit 3 жыл бұрын
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.
@TKEDGE
@TKEDGE 2 жыл бұрын
Thank you Amanda
@toniakparteh8964
@toniakparteh8964 Жыл бұрын
This topic was helpful for me. I'm from Liberia 🇱🇷
@user-ix2il2en3s
@user-ix2il2en3s 7 ай бұрын
Helpful for me ❤
@itaimandinga84
@itaimandinga84 3 жыл бұрын
Greatest thanks, all is well 🙏
@amandalovestoaudit
@amandalovestoaudit 2 жыл бұрын
Thank you 😊
@mihlalintloko7719
@mihlalintloko7719 3 жыл бұрын
thank you very much, this clear
@amandalovestoaudit
@amandalovestoaudit 3 жыл бұрын
You’re welcome!
@mdaoud1981
@mdaoud1981 Жыл бұрын
Thanks alot
@newlife4148
@newlife4148 3 жыл бұрын
Thnx a lot for wonderful lectures. World best Auditing lecturer U r a gift of God 🙏🙏🙏
@amandalovestoaudit
@amandalovestoaudit 3 жыл бұрын
Awww thank you ☺️
@praymoregudyanga1380
@praymoregudyanga1380 2 жыл бұрын
Thank you Dr
@amandalovestoaudit
@amandalovestoaudit 2 жыл бұрын
You’re welcome ☺️
@sisaxazana309
@sisaxazana309 4 жыл бұрын
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?
@amandalovestoaudit
@amandalovestoaudit 4 жыл бұрын
Hi Sisa! All the ones from last year are still good ☺️
@sisaxazana309
@sisaxazana309 4 жыл бұрын
@@amandalovestoaudit Okay lovely😊
@meh5756
@meh5756 3 жыл бұрын
Nice explanations
@Surya99999
@Surya99999 3 жыл бұрын
I'm a CA student from India and you are amazing.
@amandalovestoaudit
@amandalovestoaudit 3 жыл бұрын
Thank you!
@mariaprokofieva1923
@mariaprokofieva1923 3 жыл бұрын
Amanda, what software do you use for recording? Also, the notes feature is awesome! What do you use for it?
@amandalovestoaudit
@amandalovestoaudit 3 жыл бұрын
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 KZfaq.
@gabriellaaluko9045
@gabriellaaluko9045 2 жыл бұрын
Please could you do the practical aspect of what you thought using excel, thanks.
@sengyanwang4309
@sengyanwang4309 2 жыл бұрын
helpful information thanks
@tj6544
@tj6544 3 жыл бұрын
Brilliant!
@amandalovestoaudit
@amandalovestoaudit 3 жыл бұрын
Thank you TJ!
@satanist9902
@satanist9902 2 жыл бұрын
Is there a significant difference between accounting framework used by the IFRS and Australian accounting standard
@shoppergal6049
@shoppergal6049 4 жыл бұрын
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.
@amandalovestoaudit
@amandalovestoaudit 4 жыл бұрын
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
@shoppergal6049
@shoppergal6049 4 жыл бұрын
@@amandalovestoaudit That would be great 😄
@shivam3853
@shivam3853 3 жыл бұрын
Thank you mam I got clarity on doubt thank you once again For which course u tech mam Huge respect from India
@amandalovestoaudit
@amandalovestoaudit 3 жыл бұрын
Any time Shivam ☺️
@chocymachado
@chocymachado 3 жыл бұрын
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?
@amandalovestoaudit
@amandalovestoaudit 3 жыл бұрын
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
@nurafifahsyaharudin1845
@nurafifahsyaharudin1845 3 жыл бұрын
thank you thousands times
@amandalovestoaudit
@amandalovestoaudit 3 жыл бұрын
You're welcome a thousand times!
@mcrijus1641
@mcrijus1641 2 жыл бұрын
Thanks
@shekharthapaliya8369
@shekharthapaliya8369 4 жыл бұрын
Thank you miss .. you follower from Nepal 🇳🇵🇳🇵🇳🇵🇳🇵
@amandalovestoaudit
@amandalovestoaudit 4 жыл бұрын
Thank you Shekhar!
@emmanuelesekhile7443
@emmanuelesekhile7443 8 ай бұрын
What is the difference between allocation and classification?
@triphenry8687
@triphenry8687 2 жыл бұрын
Ma'am are these assertions made by the management when the auditor conducts the process of vouching and verification? Love your videos!
@amandalovestoaudit
@amandalovestoaudit 2 жыл бұрын
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?
@triphenry8687
@triphenry8687 2 жыл бұрын
@@amandalovestoaudit our audit assertions as in existence, completeness, accuracy and valuation of transactions and account balances etc? (Thank you for your help Ma'am)
@CoolAce1-dv1pn
@CoolAce1-dv1pn 5 ай бұрын
You explain this very well but after taking a few accounting courses I realized it's not for me. The subject is just way too tedious for me.
@Kimberly-i5Kimberly__45l4
@Kimberly-i5Kimberly__45l4 4 күн бұрын
The future of Binance: an exclusive interview with the CEO
@abhishekm7785
@abhishekm7785 2 жыл бұрын
Pwoli
@eyempty
@eyempty 3 жыл бұрын
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
@amandalovestoaudit
@amandalovestoaudit 3 жыл бұрын
Hi Ibrahim - it could be - as a way to determine whether internal controls are appropriate.
@kumarrajagoolisetty9500
@kumarrajagoolisetty9500 3 жыл бұрын
Thanks mam
@amandalovestoaudit
@amandalovestoaudit 3 жыл бұрын
You're very welcome!
@s4sumeetmishra
@s4sumeetmishra 4 жыл бұрын
#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).
@amandalovestoaudit
@amandalovestoaudit 4 жыл бұрын
Thanks Sumeet - coming up next week will be some applied examples :)
@workiemelkamu7425
@workiemelkamu7425 Ай бұрын
❤❤❤❤❤❤❤❤❤
@Dorothy___r8r
@Dorothy___r8r 3 күн бұрын
Binance's CEO opens up about future developments in an exclusive interview
@nitinbhalla3391
@nitinbhalla3391 3 жыл бұрын
Assertions
@Nehas06
@Nehas06 9 ай бұрын
thenkewww
@John__8t1
@John__8t1 2 күн бұрын
What's on the horizon? Exclusive interview with Binance's CEO reveals future insights
@aajaaaa
@aajaaaa 4 жыл бұрын
Very helpful thank you dr
@amandalovestoaudit
@amandalovestoaudit 4 жыл бұрын
You are so welcome!
@enkievatoes270
@enkievatoes270 Жыл бұрын
Basically you can totally replace my totally useless lecturer…Yeah for free!
@Linda_w82
@Linda_w82 9 күн бұрын
System error: delivery to an invalid email confirmed!
@DollarBillsCorner
@DollarBillsCorner 3 жыл бұрын
The kids are cute though lol.
@amandalovestoaudit
@amandalovestoaudit 3 жыл бұрын
Thanks! Makes up for their cheekiness and ability to find trouble 😂
@MusaCyrealSekatane
@MusaCyrealSekatane 3 жыл бұрын
Helpful but just like class I fell asleep.
@amandalovestoaudit
@amandalovestoaudit 3 жыл бұрын
😂😂😂
@chishalalibongani356
@chishalalibongani356 3 жыл бұрын
kindly share your email
@amandalovestoaudit
@amandalovestoaudit 3 жыл бұрын
Hi - in my "About" info on my YT page - kzfaq.infoabout
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