PwC Interview Questions, Process, and Tips

Audit assertions are the claims made by management regarding the accuracy and completeness of financial statements.

• Audit assertions are used by auditors to assess the risk of material misstatement in financial statements.

• There are six types of audit assertions: existence, completeness, accuracy, valuation, rights and obligations, and presentation and disclosure.

• For example, existence assertion refers to whether the ass...read more

Materiality refers to the significance or importance of information in relation to a company's financial statements.

• Materiality is a concept used in accounting and auditing.

• It helps determine what information is important enough to be included in financial statements.

• Materiality is based on the amount or nature of the information and its impact on the financial statements.

• For example, a $10,000 error in a company with ...read more

The proposed dividend is currently under review and will be announced at a later date.

• The company is currently reviewing its financials to determine the feasibility of a dividend payout

• The decision on the proposed dividend will depend on various factors such as profitability, cash flow, and future growth prospects

• The announcement of the proposed dividend will be made after the review process is complete