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Respective Audit Procedures performed at what level?

Auditing

Risk Assessment Procedures (as per SA 315) are performed to identify and assess ROMM, whether due to fraud or error at, BOTH, FS and assertion level. Whereas, Substantive Procedures (ToD & Analytical Procedures) are performed to detect material misstatements ONLY at assertion level. Theoretically, is my understanding correct? Please correct me if I am wrong.