In addition to obtaining responses to attorney letters, what other procedures can be used to gather audit evidence regarding litigation, claims, and assessments?
Answer to relevant QuestionsWhat are the major categories of information contained in written representations?Describe the audit documentation review process in a public accounting firmWhich of the following best describes the role of analytical procedures near the end of the audit engagement? a. To identify possible deficiencies in the client’s internal control over financial reporting. b. To identify ...Which of these persons generally does not participate in writing the management letter? a. Client’s outside attorneys. b. Client’s accounting and production managers. c. Public accounting firm’s audit team on the ...Which of the following substantive procedures should auditors ordinarily perform regarding subsequent events? a. Compare the latest available interim financial statements with the financial statements being audited. b. Send ...
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