When Auditors Perform Audit Procedures Relating to Contingent Liabilities and Subsequent

question 29

Multiple Choice

When auditors perform audit procedures relating to contingent liabilities and subsequent events,what evidence do the auditors gather for the financial statements as a whole?

• A)perform preliminary analytical procedures
• B)evidence from test of controls
• C)evidence from substantive testing
• D)obtain client representation letter

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Definitions:

Online Chat Systems

Digital platforms that enable real-time text-based communication between users.

Centralized Control Mechanisms

Systems or procedures designed to manage or regulate activities from a single, central point of authority.

Speed

The rate at which something moves or operates, often measured in terms of distance covered or tasks completed over a given time period.

Messaging Leanness

The degree to which a message is straightforward and devoid of unnecessary information or embellishment.