Final answer:
Auditors are most concerned with the existence assertion when evaluating Accounts Receivable, ensuring that the recorded amounts truly exist and represent valid claims against debtors.
Step-by-step explanation:
When obtaining evidence regarding Accounts Receivable (AR), auditors are typically most concerned with the existence assertion. This assertion addresses whether the amounts recorded for accounts receivable actually exist at a given date. For example, auditors may confirm receivables directly with debtors to ensure that the receivables represented in the financial statements are not fictitious and that they are valid claims of the company against its debtors.
The assertion of existence is critical because it helps prevent overstatement of assets and revenues, which could give financial statement users a misleading impression of the company's financial position and performance. Auditing standards often prioritize the existence assertion for assets like accounts receivable because these are areas where there is typically higher risk of overstatement.