What audit approach is used to search for unknown commitments?
A)include as part of the search for subsequent events
B)conduct with substantive tests associated with the cutoff assertion
C)perform as part of the audit of each cycle or audit area
D)include with the legal letter sent to lawyers

Question

Quizplus · Accepted Answer

Performing the search for unknown commitments as part of the audit of each cycle or audit area ensures that all potential commitments are identified and evaluated in the context of the specific financial statement areas they may impact.

What Audit Approach Is Used to Search for Unknown Commitments