Auditors are concerned about the existence of loss contingencies that may affect the client's financial statements. One
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Question:
- Auditors are concerned about the existence of loss contingencies that may affect the client's financial statements. One way that auditors obtain evidence about existing loss contingencies is through the attorney's letter.
- a.Describe the information that auditors want to obtain about litigation that is being handled by a lawyer.
- b.Describe three other procedures auditors use to discover existing loss contingencies.
Expert Answer:
Related Book For 
Auditing a risk based approach to conducting a quality audit
ISBN: 978-1133939153
9th edition
Authors: Karla Johnstone, Audrey Gramling, Larry Rittenberg
Posted Date:
