When the client holds a large amount of negotiable securities, auditors need to plan to guard against
Question:
a. Unauthorized negotiation of the securities before they are counted.
b. Unrecorded sales of securities after they are counted.
c. Substitution of securities already counted for other securities that should be on hand but are not.
d. Substitution of authentic securities with counterfeit securities.
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a Incorrect This should be prevented by controls not the ...View the full answer
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Related Book For
Auditing and Assurance Services
ISBN: 978-0077862343
6th edition
Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Straws
Question Posted:
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