Assume the Auditor Determines That Verifying Marketable Securities Is a Major

True/False

Assume the auditor determines that verifying marketable securities is a major and material item to the financial statements of an audit client. The auditor must therefore obtain a sufficient amount of relevant and reliable evidence about marketable securities for this audit client. The audit must also result in gathering sufficiently persuasive evidence satisfying the auditor that marketable securities are materially correct.