tleclair6712 tleclair6712

21-12-2022
Business

Answered

management believes, and the auditor is satisfied, that a material loss probably will occur when pending litigation is resolved. management is unable to make a reasonable estimate of the amount or range of the potential loss, but fully discloses the situation in the notes to the financial statements. if the auditor wishes to call attention to the matter and management does not make an accrual in the financial statements, the auditor should issue a(an):

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