Which of the following procedures most likely would give the greatest assurance that securities held as investments are safeguarded?
A) There is no access to securities between the year-end and the date of the auditor's security count.
B) Proceeds from the sale of investments are received by an employee who does not have access to securities.
C) Investment acquisitions are authorized by a member of the Board of Directors before execution.
D) Access to securities requires the presence of two designated officials.
Correct Answer:
Verified
Q21: A company has additional temporary funds to
Q23: When an entity uses a trust company
Q24: An imprest cash account is:
A)used for investing
Q26: A company holds bearer bonds as a
Q27: An auditor should trace interbank transfers for
Q27: Which one of the following would the
Q29: A primary purpose of the proof of
Q30: Which of the following controls would an
Q31: Tracing a sample of remittance advices to
Q40: All of the following can assist the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents