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    Investments Audit Objectives

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    Wawex Davis
    The document summarizes investment returns and benchmarks for various asset classes in FY05. It shows that the T. Rowe Price small cap equity fund significantly outperformed its benchmark, returning 14.7% compared to the Russell 2000 index return of 5.4%. It also shows that the Baillie Gifford international equity fund returned 12.9% in line with its benchmark of 14.8%, and the City of London international equity fund outperformed its benchmark with returns of 18.5% vs 18.1%. Fixed income investments such as bonds generally achieved lower returns than equity investments in FY05.

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    Investments Audit Objectives

    Uploaded by

    Wawex Davis
    31 views2 pages
    The document summarizes investment returns and benchmarks for various asset classes in FY05. It shows that the T. Rowe Price small cap equity fund significantly outperformed its benchmark, returning 14.7% compared to the Russell 2000 index return of 5.4%. It also shows that the Baillie Gifford international equity fund returned 12.9% in line with its benchmark of 14.8%, and the City of London international equity fund outperformed its benchmark with returns of 18.5% vs 18.1%. Fixed income investments such as bonds generally achieved lower returns than equity investments in FY05.

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    Investments Audit Objectives

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    The document summarizes investment returns and benchmarks for various asset classes in FY05. It shows that the T. Rowe Price small cap equity fund significantly outperformed its benchmark, returning 14.7% compared to the Russell 2000 index return of 5.4%. It also shows that the Baillie Gifford international equity fund returned 12.9% in line with its benchmark of 14.8%, and the City of London international equity fund outperformed its benchmark with returns of 18.5% vs 18.1%. Fixed income investments such as bonds generally achieved lower returns than equity investments in FY05.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    31 views2 pages

    Investments Audit Objectives

    Uploaded by

    Wawex Davis
    The document summarizes investment returns and benchmarks for various asset classes in FY05. It shows that the T. Rowe Price small cap equity fund significantly outperformed its benchmark, returning 14.7% compared to the Russell 2000 index return of 5.4%. It also shows that the Baillie Gifford international equity fund returned 12.9% in line with its benchmark of 14.8%, and the City of London international equity fund outperformed its benchmark with returns of 18.5% vs 18.1%. Fixed income investments such as bonds generally achieved lower returns than equity investments in FY05.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 2

    FY05 ROI Benchm ark

    Cas h 1.4% 1.7% T-Bills

    Equity Se curitie s - Sm all Cap


    T. Row e Price 14.7% 5.4% Russell 2000 A
    Kalmar 4.9% 0.9% Russell 2000 Grow th

    Equity Se curitie s - Large Cap


    Levin & Co. 12.7% 4.3% S&P 500
    Marsico 8.7% 1.2% Russell 1000 Grow th

    Corporate & Fixe d


    Hoisington 6.7% 0.4% Lehman Gov't-Credit
    PIMCO Total Return 2.5% 1.2% Lehman Aggregate

    Inte rnational
    Baillie Gif f ord 12.9% 14.8% Median International
    City of London 18.5% 18.1% IFC Global Index

    Average 2004 2005 2004 2003 2002 2001 2000 1999


    3/31/2004 3/31/2005 Balance Incom e Return Return Return Return Return Return Return
    PY
    Com m on Stock (Dividends) 280,605,805 295,052,042 287,828,924 2,178,229 0.76% 0.94% 1.34% 1.15% 1.13% 1.21% 1.28%
    Domestic 190,242,771 3100-1.2 191,175,222 190,708,997
    International 90,363,034 3100-1.4 103,876,820 97,119,927

    Bonds / Cash (Interest) 78,918,802 75,614,285 77,266,544 6,046,380 7.83% 7.22% 4.69% 5.33% 5.94% 5.37% 5.66%
    Domestic - Bonds 75,156,004 3100-1.3 72,338,818 73,747,411
    Domestic - Cash 3,211,061 3100-1.1 2,072,646 2,641,854
    Int'l - Cash 551,737 3100-1.3 1,202,821 877,279

    Real Estate Ltd. P-ship (Other) 20,386,953 3110-1 18,412,587 19,399,770 1,182,850 6.10% 5.67% 5.68% 3.32% 4.33% 6.63% 4.45%

    9,407,459
    Investments Audit Objectives
    Assertion Specific Audit Objective
    • Completeness • Completeness
    • Cutoff / Timeliness

    • Validity
    • Existence & Occurrence
    • Cutoff / Timeliness

    • Valuation at Historical Cost / GAAP


    • Valuation
    • Valuation at Net Realizable Value
    • Posting and Summarization

    • Ownership
    • Rights and Obligations
    • Classification
    • Presentation and Disclosure • Disclosure

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