Question: You have received confirmations from the transfer agent and the registrar of Lowe Company as to the number of authorized and outstanding shares as of
You have received confirmations from the transfer agent and the registrar of Lowe Company as to the number of authorized and outstanding shares as of December 31, 20X1, Lowe’s year-end.
a. Which financial statement assertions do these confirmations most directly address?
b. Provide a listing of additional auditing procedures likely to be necessary in the audit of Lowe’s common stock outstanding.
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