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Audit of Investments Powerpoint
Audit of Investments Powerpoint
INVESTMENTS
Assertions
Assertions Audit
Audit Objectives
Objectives Audit
Audit Procedures
Procedures
Existence
Existence or
or Occurrence
Occurrence To
To determine
determine that
that investments
investments 1.
1. Obtain
Obtain or
or prepare
prepare aa listing
listing
in
in securities
securities (shares,
(shares, bonds,
bonds, of
of securities
securities and
and
notes)
notes) physically
physically exist
exist and
and in
in investments
investments owned
owned by by the
the
loans
loans and
and advances
advances exist.
exist. company
company andand related
related
revenue
revenue accounts
accounts andand
reconcile
reconcile to
to the
the general
general
ledger.
ledger.
2.
2. Inspect
Inspect securities
securities onon hand.
hand.
3.
3. Obtain
Obtain confirmation
confirmation of of
securities
securities held
held by
by others.
others.
AUDIT OBJECTIVES AND PROCEDURES