What two presentation classification issues are important for the audit of investments?

The two presentation classification issues that are important for the audit of investments are:

•  Marketable securities need to be properly classified between held-to-maturity, trading, and available-for-sale.
•  The financial statement classification requires that all trading securities be reported as current assets and held-to-maturity securities and individual available-for-sale securities be classified as current or noncurrent assets based on whether management expects to convert them to cash within the next twelve months.