The primary source of information auditors use to obtain information about litigation, claims, and assessments is the
A)client's attorney.
B)court records.
C)client's management.
D)independent auditors.

Question

Quizplus · Accepted Answer

The primary source of information for auditors to obtain information about litigation, claims, and assessments is the client's management. This information can be obtained through inquiry, review of legal correspondence, and review of financial statements disclosures. While auditors may also seek information from the client's attorney or court records, these sources may not provide a complete picture of the client's legal situation. The role of independent auditors is to examine the financial statements and provide an opinion on their fairness, not to provide information about the client's legal situation.

The Primary Source of Information Auditors Use to Obtain Information