Ownership and existence - verification procedures, Auditing

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Ownership and Existence - Verification Procedures

Establishment of title and beneficial ownership of investments is not convincingly possible. Conversely, evidence is obtainable in the form of as:

(i) Share certificates, correspondence along with nominee etc

(ii) Payments for brokers, securities, 'contract notes' or ' bought notes'

(iii) Dividends or else interest from 'warrants', dividends, securities.

(iv) Internal under control procedures.

 


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