Auditors count investment securities held by the client primarily to test the ASB balance assertion of:
A)existence.
B)rights and obligations.
C)completeness.
D)valuation.

Question

Quizplus · Accepted Answer

Counting investment securities held by the client primarily tests the existence assertion, ensuring that the securities reported on the financial statements actually exist at the time of the audit.

Auditors Count Investment Securities Held by the Client Primarily to Test