Which of the following forms of evidence would be least persuasive in forming the auditor's opinion about marketable securities and other investments held by the company?
A) responses to auditor's questions by the president and controller regarding the investments account
B) correspondence with a stockbroker regarding the quantity of client's investments held in street name by the broker
C) minutes of the board of directors authorizing the purchase of stock as an investment
D) the auditor's count of marketable securities

Question

Quizplus · Accepted Answer

Responses to auditor's questions by the president and controller regarding the investments account would be considered less persuasive because they are subjective and could be biased. Objective evidence such as correspondence with a stockbroker, minutes of the board of directors, and the auditor's own count of securities are generally more reliable.

Which of the Following Forms of Evidence Would Be Least