The audit of investments includes the procedure of examining the documents for any restrictions in order to test the assertion of

Question

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The audit of investments would include the examination of the documents for any restrictions to test the assertion of rights. This means that the auditor is looking to ensure that the client actually has the right to hold and dispose of the investment as they claim. The other assertions (existence, completeness, valuation) may also be relevant, but they are not directly tested through the examination of restrictions on the investment documents.

The Audit of Investments Includes the Procedure of Examining the Documents