$39.$ The next few questions will be based on following fact pattern:

Your client is wireless Network Limitred $($WNL$),$ a private company with a year$-$end of December $31.$ WNL chooses to report under ASPE. Just prior to year$-$end, on November $30,$ WNL acquired $1,000$ common shares of Telus through a stock broker for a total cost of $$40,000.$ As required by ASPE, WNL is required to account for its investment in Telus at fair value through profit $/$ loss $($FVPL$).$ Assume that you are a junior auditor and you have been assigned the audit this investment in Telus. Assume that the reported amount on the balance sheet is $$42,000.$

The question is based on WNL fact pattern above.

Focus on the $$existence$$ assertion. What are examples of $$nature$$ of audit procedures that might be used by you to audit the $$existence$$ of the investment as of December $31.($Select any procedures that are appropriate$).$

a$)$ Obtain the December broker statement and ensure that the client holds $1,000$ common shares of Telus as of December $31.$

b$)$ Check that the Telus shares are disclosed properly in the financial statements and notes.

c$)$ Review the broker statement at December $31$ to ensure that all the shares of telus have been included in the reported amount on the Balance Sheet.

d$)$ Review the broker statement at the date of purchase and verify the cost paid for the shares of telus.

e$)$ Send a letter to WNL$$s broker to obtain a confirmation that WNL is holding $1,000$ Shares of telus at December $31.$