Normally the initial source of information about litigation, claims, and unrecorded or contingent liabilities is:
A)the board of directors.
B)the client's solicitors.
C)the audit committee.
D)management.

Question

Quizplus · Accepted Answer

Management is typically the initial source of information about litigation, claims, and unrecorded or contingent liabilities as they are responsible for the financial statements and have direct knowledge of the company's operations and potential liabilities.

Normally the Initial Source of Information About Litigation, Claims, and Unrecorded