Auditors usually vouch purchasand salof investments by examining brokers' advicand evidence of appropriate approval. Purchasand salof non-current investments, for example, should be vouched to authorizations in the minutof directors' meetings.

Question

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Auditors typically verify purchases and sales of investments by checking brokers' advice and ensuring that appropriate authorizations exist, such as those recorded in the minutes of directors' meetings.

Auditors Usually Vouch Purchasand Salof Investments by Examining Brokers' Advicand