Your client, Global Limited, holds a large portfolio of investments in shares of other entities, approximately 80% of them being listed on the stock exchange. Approximately 800 parcels of shares are held at any time.

The following data on each share parcel is maintained on the share investment master file.

Investment identification number

Date purchased

Investment identification number Date purchased

Date sold Investee name

Total number of shares purchased Number of shares sold

Number of shares currently held

Investment cost for shares currently held

Year-end market value of shares held Profit/loss on sale

Dividend income for the period

Dividend income to date

The above data is maintained on the computer for a period of two years.

REQUIRED

(a)Identify the two (2)keyassertions the auditor will need to address for 'shareinvestments' account balance.

(b)Discuss how general audit software (GAS) other than exception reports, could assist in the audit of these investments for each of the assertions identified in (a)above.

(c)Outline two (2) exception reports which could be produced from the above share investment master file by GAS to help you with substantive testing. Your answer should indicate the details included in the report, the assertion targeted and howthe report will be used by the auditor.

(d)Outline two (2) practical programmed application controls that you would expect to find in Global Limited's share investment master file.