Consider loss contingencies. a. What is the primary source of information about litigation, claims, and assessments? What

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Consider loss contingencies.

a. What is the primary source of information about litigation, claims, and assessments? What is the primary source of corroborative evidence in this regard?

b. Why might client lawyers be hesitant to disclose information to auditors?

c. Who sends the letter of audit inquiry to the client’s lawyers? To whom should the lawyer send the response to that letter?

d. What is the effect on the auditor’s report of a lawyer’s refusal to furnish the information requested in the letter of audit inquiry?

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Auditing A Risk Based Approach

ISBN: 9780357721872

12th Edition

Authors: Karla M Johnstone-Zehms, Audrey A. Gramling, Larry E. Rittenberg

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Question Posted: Sep 22, 2023 03:21 PM

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Consider loss contingencies. a. What is the primary source of information about litigation, claims, and assessments? What

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a The primary source of information concerning litigation claims and assessments is the clients ...View the full answer

Auditing A Risk Based Approach

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