In auditing tests of details of balances for investments, the auditor's procedures may include all of the following except:
A) inspecting and confirming chess records.
B) inspecting and counting securities on hand.
C) recalculating investment revenue earned.
D) vouching purchases and sales of investments to brokers' advices
Correct Answer:
Verified
Q18: The standard bank confirmation requests information about
Q19: Initial substantive procedures for cash balance assertions
Q20: In working with the bank reconciliation and
Q21: One 'red flag' that may indicate fraud
Q22: One of the commonly used substantive tests
Q24: Verification procedures for investment income is least
Q25: ASA 600 (ISA 600) recommends that in
Q26: Analytical procedures applied to investment balance sheet
Q27: The correct statement concerning the materiality of
Q28: The inspecting and counting of securities on
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