The auditor's responsibility with regards to contingent liabilities is to
A)identify the appropriate accounting treatment.
B)decide on the appropriate accounting treatment.
C)prepare note disclosure.
D)evaluate the accounting treatment of known contingent liabilities.

Question

Quizplus · Accepted Answer

The auditor's responsibility is to evaluate the accounting treatment of known contingent liabilities to ensure they are properly disclosed and accounted for in accordance with applicable accounting standards.

The Auditor's Responsibility with Regards to Contingent Liabilities Is to