AUDIT PROGRAM FOR INVESTMENTS Client’s Name: Grace Corporation. Staff In-Charge: XMC Audit In-Charge: Cluster AAA Year-End Audit Date: December 31, 2019 AUDIT OBJECTIVES AND AUDIT ASSERTIONS 1. Audit Objective: To determine that investments in securities physically exist and in loans and advances exist. Audit Assertion: Existence 2. Audit Objective: To determine that investments are all included in the balance sheet. Audit Assertion: Completeness 3. Audit Objective: To determine that the company owns or has ownership rights to all investments included in the balance sheet. Audit Assertion: Rights and Obligations 4. Audit Objective: To determine that investments are valued properly in accordance with generally accepted accounting principles. Audit Assertion: Valuation and Allocation 5. Audit Objective: To determine that investments are properly described and classified in the balance sheet and related disclosures are adequate. Audit Assertion: Presentation and Disclosure Audit Procedures 1. Perform analytical procedures 2. Obtain or prepare a listings of securities and investments owned by the company 3. Prepare or obtain an analysis of the investment account. a. Obtain or prepare a listing of securities and owned investments by the Done by XMC XMC XMC Date done Reviewed by: company and reconcile to the general ledger. b. Check footing and cross -footings. 4. Conduct XMC marketable securities count. a. Check whether securities are owned by the entity. b. Reconcile with marketable securities recorded. 5. Conduct inspection XMC of marketable securities located outside of the entity. a. Arrange a visit to conduct count. b. Confirm that the securities being held outside the entity are of the entit 6. Review minutes of XMC the meeting and other documents which supports the purpose of acquiring the marketable securities to confirm as to the proper classification of the securities. a. Discuss with the entity the process used to classify the securities 7. Determine market XMC values of securities at balance sheet date for proper valuation. 8. Verify calculations XMC of investments at amortized cost. a. Perform recalculation. b. Check whether and impairment should be recognized but was not recognized. 9. Check whether the XMC investments presented in the financial statements including disclosures are in accordance with and PFRS.