Which of the following is not a common audit procedure used to search for contingent liabilities?
A) examine letters of credit
B) examine payroll reports
C) review internal revenue agent reports
D) analyze legal expense

Question

Quizplus · Accepted Answer

Payroll reports are not typically used as a common audit procedure to search for contingent liabilities. Instead, letters of credit, internal revenue agent reports, and legal expense analysis are more commonly used.

Which of the Following Is Not a Common Audit Procedure