A CPA Has Received an Attorney's Letter in Which No

question 116

Multiple Choice

A CPA has received an attorney's letter in which no significant disagreements with the client's assessments of contingent liabilities were noted. The resignation of the client's lawyer shortly after receipt of the letter should alert the auditor that:

• A) an adverse opinion will be necessary.
• B) undisclosed unasserted claims may have arisen.
• C) the auditor must begin a completely new examination of contingent liabilities.
• D) the attorney was unable to form a conclusion with respect to the significance of litigation, claims, and assessments.

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Definitions:

Submacro

A subdivision of a macro in programming that performs a specific task or function as part of a larger macro, helping to organize complex sequences of actions.

Macro List

A compilation of macros, which are sets of instructions that automate tasks, typically within software applications.

Command

An instruction to a computer or software application to perform a specific task.

Run Button

A graphical button in software that initiates the execution of a program or query.