Which statement is correct regarding audit of investment

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Reference no: EM132831072

problem 1: Which statement is correct regarding audit of investment securities?

A. An auditor's audit objective is to determine whether the securities are authentic.

B. Examination of paid checks issued in payment of securities purchased is the most effective procedure to verify existence.

C. In performing tests of the carrying amount of investments is equity securities, the auditor would usually refer to the quoted market prices of the securities.

D. If a client has a large and active investment portfolio that is kept in a bank safe-deposit box and the auditor is unable to count the securities at the end of the reporting period, the auditor most likely will request the bank to confirm to the auditor the contents of the safe deposit box at the end of the reporting period.

Reference no: EM132831072

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