The auditor best determines the existence of investments by

Question

Quizplus · Accepted Answer

The best way for an auditor to determine the existence of investments is by confirming or examining recorded investments. This involves obtaining written confirmation from the investment custodian or broker, or physically inspecting the investments themselves. Footing schedules or recomputing interest and gains/losses may provide some evidence of investments but may not necessarily prove their existence. Examining recorded investments for name and title may provide some indication of the investment, but it would not confirm its existence.

The Auditor Best Determines the Existence of Investments by