Importance and requirement of Contingent Liabilities

You have completed your fieldwork and have a handful of other considerations before you compete the audit and issue your report. These activities are designed to ensure nothing significant has occurred between the completion of your fieldwork and the issuing of the audit report. You are assigned as a senior on the staff, in line to be promoted to manager, to instruct the other staff on the importance of considering contingent liabilities, letters from client lawyers, and subsequent events.

Create a 2- to 3-slide presentation for the staff.

Explain the importance of reviewing for contingent liabilities

Describe the requirements for reviewing for contingent liabilities

  • Importance of Contingent liabilities
  • Requirements of Contingent liabilities

***PLEASE CONCENTRATE ONLY ON CONTINGENT LIABILITIES, I only need 2 to 3 slides for these.

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