During an examination of a public company, the auditor should obtain written confirmation regarding bond transactions from the

Question

Quizplus · Accepted Answer

The trustee is the official who is responsible for maintaining records on the bond issue and servicing the bond. As such, the trustee can provide the auditor with written confirmation regarding the bond transactions. Bond brokers and attorneys may be involved in the transaction, but they do not have access to the same information as the trustee. Internal auditors may have some knowledge of the bond transactions but are not responsible for maintaining records or providing written confirmation.

During an Examination of a Public Company, the Auditor Should