What procedures must the auditor perform when gathering evidence related to contingencies? (Several choices may be correct.) O Send accounts payable confirmations O Inquire of management and in-house legal counsel of any unreported contingent liabilities O Review minutes of the board of directors O Review legal expense accounts for unexpected fluctuations O Perform an inventory count

Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter13: Auditing Debt, Equity, And Long-term Liabilities Requiring Management Estimates
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What procedures must the auditor perform when gathering evidence related to contingencies? (Several choices may be correct.)
O Send accounts payable confirmations
O Inquire of management and in-house legal counsel of any unreported contingent liabilities
O Review minutes of the board of directors
O Review legal expense accounts for unexpected fluctuations
O Perform an inventory count
Transcribed Image Text:What procedures must the auditor perform when gathering evidence related to contingencies? (Several choices may be correct.) O Send accounts payable confirmations O Inquire of management and in-house legal counsel of any unreported contingent liabilities O Review minutes of the board of directors O Review legal expense accounts for unexpected fluctuations O Perform an inventory count
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