The substantive audit procedure "confirm outstanding common and preferred shares with share registrar agent" provides evidence for which of the following assertion(s)?
A)Presentation and ownership.
B)Completeness,valuation,and presentation.
C)Existence,completeness,and ownership.
D)Existence only.

Question

Quizplus · Accepted Answer

Confirming outstanding common and preferred shares with the share registrar agent provides evidence for the existence of the shares, completeness of the records, and ownership of the shares by the recorded shareholders.

The Substantive Audit Procedure "Confirm Outstanding Common and Preferred Shares