The next few questions will be based on the following fact pattern. Your client is Wireless Networking Limited ("WNL"), a private company with a year-end of December 31. WNL chooses to report under ASPE. Just prior to year end, on November 30, WNL acquired 1,000 common shares of Telus through a stock broker for a total cost of $40,000. As required by ASPE, WNL is required to account for its investment in Telus at fair value through profit/loss (FVPL). Assume that you are a junior auditor and you have been assigned to audit this investment in Telus. Assume that the reported amount on the balance sheet is $42,000. Question 16 3 pts This question is based on the WNL fact pattern above. Focus on the "existence" assertion. What are examples of "nature" of audit procedures that might be used by you to audit the "existence" of the investment as of December 31. (Select any procedures that are appropriate.) O Review the broker statement at December 31 to ensure that all shares of Telus have been included in the reported amount on the balance sheet. O Obtain the December broker statement and ensure that the client holds 1,000 common shares of Telus as of December 31. Check that the Telus shares are disclosed properly in the financial statements and notes. Send a letter to WNL's broker to obtain a confirmation that WNL is holding 1000 shares of Telus at December 31. O Review the broker statement at the date of purchase and verify the cost paid for the shares of Telus.Question 17 3 pts This question is based on the WNL fact pattern above. What management assertions are applicable to this investment as of December 31? (Select any assertions that are applicable.) O Classification O Presentation O Completeness O Rights and Obligations O Cut-off O Accuracy, Valuation, Allocation O Existence OccurrenceQuestion 18 3 pts This question is based on the WNL fact pattern above. Focus on the "accuracy, valuation and allocation" assertion. What are examples of "nature" of audit procedures that might be used by you to audit the "valuation" of the investment as of December 31? (Select any procedures that are appropriate.) ) Review the broker statement at the date of purchase and verify the date of the acquisition. O Confirm with the Broker the fair value of the Telus common shares as of December 31. O Visit the Telus website or any other valid website to obtain the average stock price of Telus during the year. O Inspect the share certificates of Telus held by WNL. O Review the December broker statement, which normally shows the fair value of the stocks held by the client, to ensure that the stock price used by the client is correct (i.e. $42 per share). O Review the TSX (the Toronto Stock Exchange) website to verify the Closing trading price of Telus as of December 31. O Send a confirmation letter to the broker asking the broker to confirm the price that WNL paid for the shares