Audit procedure to detect misuse of investment securities

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Reference no: EM132155179

1. Bradford, a restaurateur, meets his staff every morning to discuss daily plans, work-related problems, and their solutions. His employees have devised a unique method to deliver efficient and error-free service. Bradford gives his chefs full freedom to innovate and experiment with the dishes on the menu and shares customer feedback with them. In case of exceptional customer reviews, he rewards the entire staff with weekend outings. Which of the following approaches to organizational control does Bradford use at his restaurant?

a. The Theory X control approach b. The directive control approach c. The decentralized control approach d. The hierarchical control approach

2. The best audit procedure to detect the misuse of investment securities and replacement of the securities prior to year end is:

A. Vouching of purchased securities.

B. Reconciliation of the subsidiary ledger of securities to the controlling account.

C. Comparing the amount of investment revenue recorded by the client to the amount independently computed by the auditors.

D. Confirmation of securities held by a custodian at year end.

Reference no: EM132155179

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