Solution-Identify possible contingent liabilities

Identify possible contingent liabilities

Reference no: EM132716957

Problem 1: To identify possible contingent liabilities, the auditor usually will:

Option 1: consider whether information obtained in other audit areas indicate the possibility of a contingent liability

Option 2: review internal revenue agent reports

Option 3: review minutes of the board of directors and audit committee

Option 4: perform all of the above procedures

Reference no: EM132716957

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Identify possible contingent liabilities

Reference no: EM132716957

Reference no: EM132716957

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