In an assurance engagement of treasury operations, an internal auditor is required to consider all of the following issues except:
a. The audit committee has requested assurance on the treasury department’s compliance with a new policy on use of financial instruments.
b. Treasury management has not instituted any risk management policies.
c. Due to the recent sale of a division, the amount of cash and marketable securities managed by the treasury department has increased by 350 percent.
d. The external auditors have indicated some difficulties in obtaining account confirmations.