IIA
IIA-CFSA · Question #194
IIA-CFSA Question #194: Real Exam Question with Answer & Explanation
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Question
Auditors testing mutual funds transactions will typically focus on whether customer purchases and redemptions are accounted properly. In cases where brokers are used to maintain customer accounts, auditors may need to confirm:
Options
- AThe number of shares held by the broker
- BThe number of shares held by the dealer
- CThe number of shares held by the shareholder itself
- DThe number of shares held by the mutual fund
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