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  • D-Marketable Securities Appendix 1-Global

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    harris adiyono
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    This document outlines procedures for auditing marketable securities. It lists five procedures with descriptions. The first procedure is to verify existence and ownership of recorded securities through confirmation or examination of evidence. The second checks market valuations against quotations or estimates of current value. The third evaluates if securities are recorded properly according to accounting policies. The fourth inspects documentation of reclassifications between trading and investment categories to determine proper accounting treatment.

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    PSP for Marketable securities

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    D-Marketable securities Appendix 1-Global

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    This document outlines procedures for auditing marketable securities. It lists five procedures with descriptions. The first procedure is to verify existence and ownership of recorded securities through confirmation or examination of evidence. The second checks market valuations against quotations or estimates of current value. The third evaluates if securities are recorded properly according to accounting policies. The fourth inspects documentation of reclassifications between trading and investment categories to determine proper accounting treatment.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    14 views1 page

    D-Marketable Securities Appendix 1-Global

    Uploaded by

    harris adiyono
    This document outlines procedures for auditing marketable securities. It lists five procedures with descriptions. The first procedure is to verify existence and ownership of recorded securities through confirmation or examination of evidence. The second checks market valuations against quotations or estimates of current value. The third evaluates if securities are recorded properly according to accounting policies. The fourth inspects documentation of reclassifications between trading and investment categories to determine proper accounting treatment.

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    © All Rights Reserved
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    of 1

    D: Marketable securities

    Appendix 1 – PSPs

    Title Assertions Primary substantive procedure

    D-01-GL: Verification of BS: E, R&O Verify the existence and ownership of recorded securities through confirmation or, when appropriate, examination of evidence of ownership (e.g., stock certificates, bank
    existence and ownership – statements, broker statements).
    Marketable securities

    D-02-GL: NOT USED NOT USED

    D-03-GL: Market BS: V, P&D Inspect market quotations or other evidence of current value of marketable securities
    valuation – Marketable
    securities

    D-04-GL: Valuation in BS: V, P&D Test that marketable securities are recorded in accordance with the entity’s accounting policies and applicable financial reporting framework.
    accordance with
    accounting policies –
    Marketable securities

    D-05-GL: Reclassification BS: V, C, P&D Inspect documentation and make inquiries to determine the validity and extent of reclassification between categories of investments. By reference to the entity’s accounting policies
    between trading and and applicable financial reporting framework, evaluate the reclassification to determine the effect of the transfer on: 1) the recognition of profit or loss, 2) the stated intent and
    investment portfolios – ability, 3) the classification of other investments, and 4) comprehensive income, if applicable.
    Marketable securities

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