Which of the Following Is Not an Audit Procedure That

question 5

Multiple Choice

Which of the following is not an audit procedure that the independent auditor would perform with respect to litigation,claims,and assessments?

• A) Inquire of and discuss with management the policies and procedures adopted for identifying, evaluating, and accounting for litigation, claims, and assessments.
• B) Obtain from management a description and evaluation of litigation, claims, and assessments that existed at the balance sheet date.
• C) Obtain assurance from management that it has disclosed all unasserted claims that the lawyer has advised are likely to be asserted and must be disclosed.
• D) Confirm directly with the entity's lawyer that all claims have been recorded in the financial statements.

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Definitions:

Unusual Behavior

Actions or reactions of an individual or group that deviate from what is typically expected or considered normal by societal standards.

Psychological Abnormality

Behaviors, thoughts, or emotions that deviate significantly from societal norms or expectations, often resulting in distress or impairment.

Psychiatric Diagnosis

The identification of mental disorders based on symptom assessment, clinical interviews, and diagnostic guidelines.

Surveys

Research methods involving the collection of data from a predefined group of respondents.