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Author Question: Contingent liability disclosure in the footnotes of the financial statements would normally be made when (Read 60 times)

caca31

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on: Aug 21, 2022

Question 1

Audit procedures related to contingent liabilities are initially focused on
◦ accuracy.
◦ completeness.
◦ existence.
◦ occurrence.

Question 2

Contingent liability disclosure in the footnotes of the financial statements would normally be made when
◦ the outcome of the accounting event is deemed probable, but a reasonable estimation as to the amount cannot be made by the client or auditor.
◦ a reasonable estimation of the loss can be made, but the outcome is not probable.
◦ the outcome of the accounting event is deemed probable, and a reasonable estimation as to the amount can be made.
◦ the outcome of the accounting event as well as a reasonable estimation of the loss cannot be made.
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
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Marked as best answer by caca31 on Aug 21, 2022

RodrickHac

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Reply #1 on: Aug 21, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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caca31

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Reply 2 on: Aug 21, 2022
Excellent

ttt030911

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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