the requirement is clear. Do not say it is not.

Expectations: Part 1 of the assignment requires that you find a 10-k that report a contingent liability. Then write a paragraph about the liability you found. Finally state whether or not the liability was disclosed by the company in the footnotes or in the financial statements. In Part 2 you must state the procedures the auditor might use to search the liabilities you mentioned in Part 1. Then explain the steps in the procedures and how they will provide the desired outcomes. Finally What additional procedure could be performed? List the procedure, explain how it is performed, and discuss why it would be appropriate. Please solve this assignment according to the above expectations. If you cannot do that please do not answer it and waste my question. thank you

1-Search the EDGAR database to find a 10-K that reports a contingent liability. Write a paragraph summarizing one of the liabilities found in the financial statements. Did the company disclose the liability in the footnotes only, or did it recognize the liability in the financial statements?

2-What procedures might the auditors use to search for the contingent liabilities listed in part (1)? Explain the steps in the procedure in detail, as well as how they would provide the outcome desired.

What additional procedure could be performed? List the procedure, explain how it is performed, and discuss why it would be appropriate.