In confirming with an outside agent, such as a financial institution, that the agent is holding investment securities in the entity's name, an auditor most likely gathers evidence in support of management's financial statement assertions regarding:

Question

Quizplus · Accepted Answer

Confirming investment securities with an outside agent provides evidence for all three management assertions: existence (the securities exist and are being held by the agent), rights and obligations (the entity has the legal right to the securities and the agent has the obligation to hold them), and completeness (all investment securities held by the entity are accounted for).

In Confirming with an Outside Agent, Such as a Financial