please answer the 2 questions. thank you so much! In testing the valuation of the company's quoted investments in stocks measured atfair value, the auditor would most likely perform the following:O Obtain the market price of the investments in stocksO Obtain representation from the management's expert.O Send confirmation letter's to the company's trading agent.O Engage the auditor's expert. The company holds bonds. The responsibility of the collection of interest andprincipal should be delegated to:O The internal auditorO CashierO TreasurerO Accounting supervisor

The quoted investment in stock is the investment made by the company in purchasing the stock.

Answered: ing the valuatic ue, the auditor

Business

Accounting

ing the valuatic ue, the auditor

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter1: Quality Auditing: Why It Matters

Section: Chapter Questions

Problem 40RQSC

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Question

please answer the 2 questions. thank you so much!

In testing the valuation of the company's quoted investments in stocks measured at
fair value, the auditor would most likely perform the following:
O Obtain the market price of the investments in stocks
O Obtain representation from the management's expert.
O Send confirmation letter's to the company's trading agent.
O Engage the auditor's expert.

The company holds bonds. The responsibility of the collection of interest and
principal should be delegated to:
O The internal auditor
O Cashier
O Treasurer
O Accounting supervisor

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