The process of 'final evidence accumulation' is always done late in the engagement. Which one of the following would be done the earliest in the engagement?
A) Search for contingent liabilities.
B) Final analytical procedures.
C) Acquire the management representation letter.
D) Evaluate the going concern assumption.

Question

Quizplus · Accepted Answer

The search for contingent liabilities is typically done early in the engagement, as it is important to identify any potential liabilities that could affect the financial statements.

The Process of 'Final Evidence Accumulation' Is Always Done Late