From the List Below,select the Procedures That an Auditor Would

question 83

Essay

From the list below,select the procedures that an auditor would use to test for contingent liabilities.
a.Inquire of SEC officials regarding reported violations by the client that create claims.
b.Read the client's contracts,loan agreements,leases,and other documents.
c.Read the client's minutes of meetings of shareholders,directors,and committees.
d.Request a representation letter from all the client's employees.
e.Read the legal briefs of all suits filed against the client's competitors.
f.Request the client's management to prepare a letter of inquiry to the client's attorney regarding pending litigation against the client.

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Definitions:

Small Sample

A small sample refers to a subset of data or observations that is considered insufficient in size to represent the whole population adequately for statistical analysis.

Traditional Methods

Conventional or long-established techniques or practices used in a particular field or profession.

Inference

The process of drawing logical conclusions from premises or evidence.

Bootstrap Confidence Interval

A statistical method for estimating the confidence interval of a parameter by resampling the original data with replacement.