Verification Procedures - Investment

Verification actions should follow the common approach outlined in favor of tangible noncurrent assets. Conversely the following particular points should be noted.

Additional Consideration - ISA 501 Audit Evidence for individual Items states such audit actions relating to long term investments simply involve considering evidence as to where the entity has the capability to continue to hold the investments on a long term basis, the matter discussing along with management and obtaining written representations to such effect.