Auditing and Accounting Cases 4th Edition by Deborah Freier,Jay Thibodeau

Exercise 2

Consider the charges brought against the BLMIS auditor, David Friehling, regarding his failure to complete certain audit steps. If you were auditing BLMIS, what type of evidence would you like to review to determine whether BLMIS had (1) purchased, (2) sold, and (3) maintained proper custody of investment securities?