Auditing and Assurance Services 9th Edition by Alvin Arens,Mark Beasley,Randy Elder

تمرين 31

Which of the following controls would most effectively ensure that the proper custody of assets in the investing process is maintained?
A) Direct access to securities in the safe-deposit box is limited to one corporate officer.
B) Personnel who post investment transactions to the general ledger are not permitted to update the investment subsidiary ledger.
C) Purchase and sale of investments are executed on the specific authorization of the board of directors.
D) The recorded balances in the investment subsidiary ledger are periodically compared with the contents of the safe-deposit box by independent personnel.