KNOWLEDGE CHECK

Multiemployer plans
Plan investments & fair value

Multiemployer plans
Plan investments & fair value

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* In satisfying the existence assertion of plan investments, which statement is true?

Receiving a certification from the trustee constitutes a direct confirmation of the investments (even though a limited scope audit is not permitted for multiemployer plans).

A confirmation that states the fair value of each class of security will be sufficient for existence assertion.

A confirmation that discloses information on an investment-by-investment basis is required.

The confirmation may be received at the plan's offices as long as the auditor opens the envelope.

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