a. identify the potential audit problems that may be indicated by the schedule. b. to value the shares of Beta corporations, management has employed a securities valuation firm. Explain the audit considerations involved in auditing the value developed by the valuation firm.
you are an auditor in charge of the audit of steffen corporation. in the audit of investments, you have just been given the following list of securities held by Steffens Corporation at December 31, 20x3.. 10000 shares of microsoft corp. market value $599,100. 6,000 shares of general motors corp. 216500. 8,000 shares of beta corporation (not publicly traded). 400 holloway lodging corp. 7.5% convertible bonds 555,000.
a. identify the potential audit problems that may be indicated by the schedule.
b. to value the shares of Beta corporations, management has employed a securities valuation firm. Explain the audit considerations involved in auditing the value developed by the valuation firm.
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