Question: what audit opinion should be given by auditor ? is explanatory paragraph are needed and why ? You found that your client was engaged in

what audit opinion should be given by auditor ? is explanatory paragraph are needed and why ?

You found that your client was engaged in lawsuit in term of ownership dispute of non-current asset. According to your inquiry result with client’s attorney, you found that there is a possibility that the client will loses on the future court ruling. But the client refuses to disclose this contingent event after you persuade them.

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Solution A contingent liability is of a liability that may arise from a future uncertain event ... View full answer

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