Investment is investing outside the company, which can be in the form of securities or

other assets that are not used directly in the productive activities of the company. Investment can
be done by buying shares or bonds which can be divided into two types, namely long-term
investments and short-term investments (marketable securities) (Mulyadi, 2014:315).
On this occasion, we compiled a paper related to substantive testing of investment,
especially at Bank Sinar Abadi, which is engaged in banking, which in early 2011 had become a
foreign exchange bank and opened new branches in several major cities. To expand its business
operations network, Bank Sinar Abadi purchases between 20-30 percent of the total shares of
other banks. As for additional income, the bank also purchases and sells shares on the stock
exchange.
The substantive test in question is to ensure the presentation, disclosure and measurement
of the investment value presented in the financial statements. In this case, the bank must carry
out a series of audit processes carried out by independent auditors. Where, the goal of an
independent auditor according to SA 200 (IAPI, 2013) is to increase confidence and provide an
opinion on the recording and disclosure of stock investments made by banks.
Before conducting a substantive testing process, an Auditor must first understand the
internal control of his client's company in accordance with SA 315 (IAPI, 2013), where the
Auditor assesses, explores information and communication regarding actions, policies, and
procedures applied to investments, how parties The client identifies, analyzes, and manages risks
that may or may occur in both the recording and physical investment, and assesses and
supervises whether internal control has taken place effectively and efficiently. If you find a
deviation or known as deficiencies in the implementation of internal control, the Auditor can
report it to the entity's audit committee in accordance with SA 265 (IAPI, 2013).
Based on our research, we have found that Bank Sinar Abadi has conducted a number of
shares purchase transactions on the stock exchange, which have been followed by accounting
records by debiting the Securities accounts in a nominal amount of shares supported by the
calculation of acquisition and other supporting documents in accordance with SA 520 ( IAPI,
2013). If in other conditions, a relationship is found that is inconsistent with other relevant
information, here the auditor needs to investigate the difference by requesting information from
management and carrying out other audit procedures required in accordance with these
conditions in accordance with SA 330 (IAPI, 2013).
 In this case, the auditor then tests the transaction in more detail to prove the existence,
ownership, and valuation that exists at the balance sheet date by reviewing relevant documents,
such as the list of securities in the client's hands and carrying out the calculation and inspection
of certificates these shares. If under other conditions, the auditor finds information that the
client's share certificate is in the hands of another party at the balance sheet date, the auditor
needs to send confirmation about the client's securities in the hands of other parties in accordance
with SA 505 (IAPI, 2013). In addition, the auditor also investigated and ensured a more detailed
purchase and sale transaction of shares in the period around the balance sheet date.
In addition, from this study, the auditor also proved and re-investigated the dividends to
be received by calculating the truth of the Bank Sinar Abadi dividends based on the information
contained in the securities certificate in accordance with SA 500. In this case, the auditor proved
the truth of the investment appraisal by comparing investment value at the market price of shares
outstanding. From other information obtained, it is known that Bank Sinar Abadi has also sold
shares to support the main activity in terms of raising funds. Thus, the auditor needs to prove the
truth of the transaction. However, in checking there is a mistake in calculating the profit / loss of
sales and recording it into the accounting records. Where, the amount recorded is lower than it
should be. Thus, the auditor proposes for the bank to make record corrections to the relevant
documents in accordance with SA 330 (IAPI, 2013). The more detailed transaction testing is
intended to ensure that all stock transactions have been recorded and the money has been
received by the bank as stated in SA 530 (IAPI, 2013).
Furthermore, the auditor verifies the presentation and disclosure, so that later the auditor
can formulate an opinion regarding the assertion of the reasonableness of the bank's financial
statements in accordance with SA 700 (IAPI, 2013). If the number of shares listed in the cash
receipts journal and the income statement and statement of financial position has been calculated
based on PSAK 15 (IAI, 2019), then the auditor's opinion of the company is an unqualified
opinion. It is reasonable without exception to state that the financial statements present fairly, in
all material respects, the financial position, results of operations and cash flows of certain entities
in accordance with the statement of financial accounting standards. However, if this company
does not journalize and does not carry out calculations based on PSAK 15 (IAI, 2019) in
accordance with SA 705 (IAPI, 2013) regarding modification of opinions in the independent
auditor's report, the auditor recommends an adjusting entry for the manager. If the manager does
not want to do an adjusting entry because it affects the company's financial statements, especially
the income statement, the auditor's opinion of the company is reasonable with an exception
(qualified opinion).
 REFERENSI
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