{32. 53. 54. 55. 56. 57. 58. What are contingent naomties? Give examples. What is the duty of the auditor to search for contingent liabilities? What is a loss contingency? Give an example. What procedures can the auditor use to search for loss contingency? What is a contingent liability? Give an example? What procedures can the auditor use to search for contingent liability? What is an unasserted claim? Give an example. What procedures can the auditor use regarding unasserted claims? What are subsequent events? List the 2 types. Give examples. What procedures should the auditor undertake regarding subsequent events? How should these be accounted for in the financial statements? What is a representation letter? Who signs this letter