Cassandra Corporation, a manufacturing company, periodically invests large sums in marketable equity securities. The investment policy is
Question:
1. Is investment policy established by the investment committee of the board of directors?
2. Is the treasurer solely responsible for carrying out the investment committee’s directive?
3. Are all securities stored in a bank safety deposit box?
Required:
a. What is the purpose of the above three questions?
b. What additional questions should your ICQ include concerning the company’s investment in marketable equity securities?
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Related Book For
Auditing An International Approach
ISBN: 978-0071051415
6th edition
Authors: Wally J. Smieliauskas, Kathryn Bewley
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