Question

Which of the following engagement planning procedures would most likely assist the auditor in identifying related- party transactions before the balance- sheet date?
a. Interviewing internal auditors about their reporting responsibilities.
b. Reviewing accounting records for recurring transactions occurring near year- end.
c. Inspecting communications with the client’s legal counsel regarding recorded contingent liabilities.
d. Scanning the minutes for significant transactions with members of the board of directors.



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  • CreatedOctober 27, 2014
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