ASA 502.2 Audit Evidence - Specific Considerations for Litigation and Claims states that the auditor shall obtain sufficient appropriate audit evidence regarding:
A)the completeness of litigation and claims involving the entity.
B)the probability of any revenue or expense arising from legal matters.
C)the adequacy of the legal representation of the entity.
D)all of the above.

Question

Quizplus · Accepted Answer

ASA 502.2 requires auditors to obtain sufficient appropriate audit evidence specifically regarding the completeness of litigation and claims involving the entity, ensuring that all potential legal matters are identified and considered in the financial statements.

ASA 5022 Audit Evidence - Specific Considerations for Litigation and Claims