For infrequently traded securities, which are material in amount, the auditor should ordinarily:

Question

Quizplus · Accepted Answer

For infrequently traded securities that are material in amount, obtaining direct confirmation from an independent broker is a reliable method for the auditor to verify the value of such securities. This approach provides an independent and objective assessment of the security's value, which is crucial for accurate financial reporting.

For Infrequently Traded Securities, Which Are Material in Amount, the Auditor