Which of the Following Is Not an Audit Procedure That

question 80

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 client's lawyer that all claims have been recorded in the financial statements.

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Definitions:

Sedges

A family of grass-like plants, often found in wet grounds, distinguished by their edges (edges, sedges) and triangular stems.

Ocean Zones

The division of the ocean into different layers or regions, typically based on depth, light penetration, distance from the shoreline, and ecological characteristics.

Variable Conditions

Situations or environmental factors that can change or vary, affecting outcomes in experiments or processes.

Biota

The total collection of organisms in a given area or at a given time.