During the auditor's risk assessment procedures, a meeting was held together with the company's management. During the meeting, management has discussed that the company recently acquired bond securities from various government agencies and publicly listed shares. In light of this, the audit senior asked the management about the company's investment policy, risk appetite and investment objectives. The audit senior's inquiry would most likely address which assertion? choices: Rights and obligations Occurence Completeness Valuation
During the auditor's risk assessment procedures, a meeting was held together with the company's management. During the meeting, management has discussed that the company recently acquired bond securities from various government agencies and publicly listed shares. In light of this, the audit senior asked the management about the company's investment policy, risk appetite and investment objectives. The audit senior's inquiry would most likely address which assertion? choices: Rights and obligations Occurence Completeness Valuation
Auditing: A Risk Based-Approach to Conducting a Quality Audit
10th Edition
ISBN:9781305080577
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter10: Auditing Cash And Marketable Securities
Section: Chapter Questions
Problem 67RSCQ
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During the auditor's risk assessment procedures, a meeting was held together with
the company's management. During the meeting, management has discussed that
the company recently acquired bond securities from various government agencies
and publicly listed shares. In light of this, the audit senior asked the management
about the company's investment policy, risk appetite and investment objectives. The
audit senior's inquiry would most likely address which assertion?
choices:
Rights and obligations
Occurence
Completeness
Valuation
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