Completeness
An auditing principle: checking that every transaction that should be in a company's records actually…
In plain English
An auditing principle: checking that every transaction that should be in a company's records actually made it in.
Completeness is one of the checks auditors run on financial statements. Accuracy asks whether recorded numbers are right; completeness asks whether anything is missing, like a liability that never got booked.
For traders, it is a reminder that a balance sheet can look clean simply because something is left off it. Missing items have sunk more than one company.
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