Which of the following controls would an entity most likely use to assist in satisfying the completeness?

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Which of the following controls would an entity most likely use to assist in satisfying the completeness assertion related to long-term investments?
Which of the following controls would an entity most likely use to assist in satisfying the valuation assertion related to long term investments?
Which of the following is a general IT control that would most likely assist an entity whose system analysts left the entity in the middle of a major project?
Which of the following controls would an entity most likely use in safeguarding?
Which of the following internal controls would be most likely to reduce the risk of diversion of customer receipts by an entity's employees?

Answer:

c.The internal auditor compares the securities in the blank safe deposit box with recorded investments

Which of the following internal controls would an entity most likely use to assist in satisfying the completeness assertion related to long-term investments?
A. Senior management verifies that securities in the bank safe deposit box are registered in the entity’s name.
B. The internal auditor compares the securities in the bank safe deposit box with recorded investments.
C. The treasurer vouches the acquisition of securities by comparing brokers’ advices with canceled checks.
D. The controller compares the current market prices of recorded investments with the brokers’ advices on file.

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3.Which of the following controls would an entity most likely use to assistin satisfying the completeness assertion related to long-terminvestments?a.The controller compares the current market prices of recordedinvestments with the brokers’ advices on file.b.Senior management verifies that securities in the bank safe depositbox are registered in the entity’s name.c.The internal auditor compares the securities in the bank safedeposit box with recorded investments.d.The treasurer vouches the acquisition of securities by comparingbrokers’ advices with canceled checks.

4.Which of the following controls would an entity most likely use insafeguarding against the loss of investment securities?

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5.When negotiable securities are of considerable volume, planning by theauditor is necessary to guard against

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6.In auditing investments for proper valuation, the auditor should do allbut the following:

Which of the following control activities would an entity most likely use to assist in satisfying the completeness assertion related to long-term investments? The internal auditor compares the securities in the bank safe-deposit box with recorded investments.

Which of the following is a general IT control that would most likely assist an entity whose system analysts left the entity in the middle of a major project?

C. Systems documentation. Systems documentation is a general control that would assist an entity whose systems analyst left in the middle of a major project. Such documentation would be prepared for each application system and would include narratives and flowcharts.

Which of the following controls would an entity most likely use in safeguarding?

Which of the following controls would an entity most likely use in safeguarding against the loss of marketable securities? - Utilizing an independent trust company to hold the securities is the best control among those listed to safeguard against the loss of the securities.

Which of the following internal controls would be most likely to reduce the risk of diversion of customer receipts by an entity's employees?

Which of the following internal controls most likely would reduce the risk of diversion of customer receipts by an entity's employees? Explanation: A lockbox system is the best means of preventing fraud of cash by employees because they will never have direct access to cash receipts.