Which assertion is most relevant when auditing investments for existence?

• a) Valuation

• b) Rights and obligations

• c) Existence

• d) Completeness

Which control is related to ensuring that only authorized personnel can make investment decisions?

• a) Segregation of duties

• b) Reconciliation procedures

• c) Authorization procedures

• d) Monitoring of investment performance

Which audit procedure would be most appropriate to test the valuation of investments?

• a) Confirming investments with custodians

• b) Reviewing investment agreements

• c) Testing valuation methods

• d) Reviewing investment disclosures

Which IFRS disclosure is related to showing how investments are valued?

• a) Fair value hierarchy

• b) Investment gains or losses

• c) Details of significant investments

• d) Investment policies

When auditing investments, which assertion ensures that all investments are included in the financial statements?

• a) Valuation

• b) Rights and obligations

• c) Existence

• d) Completeness

Which control is related to regularly reconciling investment records with external statements?

• a) Segregation of duties

• b) Reconciliation procedures

• c) Authorization procedures

• d) Monitoring of investment performance

Which audit procedure involves confirming investments with custodians or brokers?

• a) Confirming investments with custodians

• b) Reviewing investment agreements

• c) Testing valuation methods

• d) Reviewing investment disclosures

Which IFRS disclosure is related to showing details of significant investments held by the client?

• a) Fair value hierarchy

• b) Investment gains or losses

• c) Details of significant investments

• d) Investment policies

When auditing investments, which assertion ensures that the client has the rights to the investments?

• a) Valuation

• b) Rights and obligations

• c) Existence

• d) Completeness

Which control is related to separating the roles of custodians, investment managers, and accounting personnel?

• a) Segregation of duties

• b) Reconciliation procedures

• c) Authorization procedures

• d) Monitoring of investment performance