List Two Ways an Auditor Can Test the Existence and Completeness

question 66

Essay

List two ways an auditor can test the existence and completeness of insurance policies.

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Definitions:

Mutual Agreement

is a consensus or a contract reached between two or more parties, often indicating a shared understanding or intent.

Assault and Battery

A legal term used to describe the combination of the threat of violence (assault) and the actual physical contact or harm (battery) to another person.

Criminally Responsible

Being legally accountable or liable for actions that are classified as crimes under the law, subject to prosecution and punishment.

Authority to Contract

The power or right delegated to an individual or entity to enter into legally-binding agreements on behalf of another party.