Multiple Choice
If during the process of identifying litigation,claims,and assessments involving the company that may increase the risk of material misstatement,the auditor assesses a risk of material misstatement due to a potential contingent liability,the auditor should
A) seek direct communication with the company's internal legal counsel
B) seek direct communication with the company's external legal counsel
C) seek direct communication with the company's management
D) seek direct communication with the company's board of directors
Correct Answer:

Verified
Correct Answer:
Verified
Q15: Type II subsequent events<br>A)provide evidence for conditions
Q16: Subsequent events are events that<br>A)occur between the
Q17: The auditing standards have listed several circumstances
Q18: The auditor should obtain sufficient appropriate evidence
Q19: The auditing standards require the auditor to
Q21: If the auditor determines that the company
Q22: The FASB define related parties as<br>A)other parties
Q23: For laws with an indirect impact on
Q24: The auditing standards require the auditor to
Q25: Auditors of public companies are required to