Which of the following is correct concerning the inspecting and counting of securities on hand?
A) a receipt should be provided by the auditor to the custodian when the securities are returned.
B) the auditor should observe the broker's advice number on the document.
C) all securities should be controlled by the auditor until the count is completed.
D) all of the above are correct
Correct Answer:
Verified
Q29: Cash should be correctly identified and classified
Q30: Although the auditor adopts a predominantly substantive
Q31: Tests of details of balances for investment
Q32: The statement that is not true concerning
Q33: 1. Identify the matters the auditor should
Q35: Are there any issues that may arise
Q36: For most entities investment transactions are:
A) infrequent,
Q37: For infrequently traded securities, which are material
Q38: The predominantly substantive approach is generally used
Q39: When inspecting securities on hand the auditor
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