Q:

An auditor would most likely verify the interest earned on bond investments by :

belongs to book: AUDITING & ASSURANCE SERVICES | A Systematic Approach|William F.Messier, Steven M.Glover, Douglas F. Prawitt|10th Edition| Chapter number:16| Question number:16.26

Ibrahimhamm

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2022-07-02

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An auditor would most likely verify the interest earned on bond investments by :

Vouching the receipt and deposit of interest checks.
Confirming the bond interest rate with the issuer of the bonds
Recomputing the interest earned on the basis of face amount, interest rate, and period held.
Testing the controls over cash receipts.

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Ibrahimhamm

2022-07-02

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C. Recomputing the interest earned on the basis of face amount, interest rate, and period held.

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