CondoCleaners.com is a typically well-run small business. There are no lawsuits, and Jim has never used a

Question:

CondoCleaners.com is a typically well-run small business. There are no lawsuits, and Jim has never used a lawyer. He set up the company himself and maintains the share records, board of directors minutes and shareholder minutes as well. There were no unusual transactions either before or after the year end audit that require disclosure.
REQUIRED
Describe your responsibilities and audit procedures with respect to subsequent events at CondoCleaners.com, including those with respect to .
Contingent liabilities
A contingent liability is an obligation of business related to an uncertain future event. The business must record it in its financial statements if the amount can be reliably estimated and it is probable that amount will be paid by business as a...