Investments: Standard Substantive Tests
Agree beginning balance to prior year workpapers
Review activity in investment-related accounts for entries that are unusual in nature or amount
Test client-prepared schedules of activity (rollforward) in all investments, for mathematical accuracy and agreement with the underlying accounting records.
Determine that schedules and subsidiary investment ledgers agree with related GL control account balances.
These schedules are the basis for add’l substantive tests.