Auditors often request that the entity send a letter of inquiry to those attorneys who have been consulted with respect to litigation, claims, and/or assessments. The primary reason for this request is to provide the auditor with
A) An estimate of the dollar amount of the probable loss.
B) An expert opinion as to whether a loss is possible, probable, or remote.
C) Information concerning the progress of cases to date.
D) Corroborative inquiries made of the entity by the auditor.

Question

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The Answer of Auditors often request that the entity send a letter of inquiry to those attorneys who have been consulted with respect to litigation, claims, and/or assessments. The primary reason for this request is to provide the auditor with
A) An estimate of the dollar amount of the probable loss.
B) An expert opinion as to whether a loss is possible, probable, or remote.
C) Information concerning the progress of cases to date.
D) Corroborative inquiries made of the entity by the auditor.

Auditors Often Request That the Entity Send a Letter of Inquiry