Some Objectives of an Audit Related to Mutual Funds Might

question 20

Multiple Choice

Some objectives of an audit related to mutual funds might include determining that:

• A) Mutual fund checks are issued in accordance with firm policies and supported by valid trades
• B) Mutual fund purchases are confirmed on a timely basis
• C) Mutual fund switches are not authorized by the client
• D) All EXCEPT "C"

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Definitions:

Body Language

Non-verbal communication by means of a sender’s bodily motions, facial expressions, or physical location.

Senders

Individuals or entities that initiate a message in the communication process, aiming to convey information to a receiver.

Networks Of Connection

The interconnected system of individuals, groups, and/or organizations that share information, resources, or support, facilitating communication and collaboration.

Independence

The state or quality of being self-reliant and free from outside control.