Basically, I just need help putting the attached 10 short answer questions into my own words. I answer all of the questions directly from the textbook word by word and I can't plagiarized. Can you put these attached answers into your own words?

1. What information is typically requested in a legal letter to a client's attorney? The following information is typically requested in a legal letter to a client's attorney: A list and evaluation of any pending litigation to which the attorney has devoted substantial attention A list of unasserted claims and assessments considered by management to be probable of assertion and reasonably possible of unfavorable outcome A description and evaluation of the outcome from each pending litigation Additions to the list provided by management or a statement that the list is complete Comments on unasserted claims where his or her views differ from management's evaluation 2. When can a CPA disclose confidential information without the client's consent? A CPA can disclose confidential information without the client's consent to: To meet disclosure requirements for GAAP or GAAS To comply with a valid subpoena To allow a review of a member's professional practice under the authority of the AICPA, a state CPA society, or a statement board of accountancy To comply with an investigation or disciplinary proceeding To allow a review of a CPA's professional practice in conjunction with the purchase, sale, or merger of the practice. 3. Define the term "contingent liability" and discuss the criteria used to classify these events or conditions. Provide some examples of contingent liabilities. A contingent liability is defined as an existing condition, situation, or set of circumstances involving uncertainly as the possible loss to an entity that will ultimately be resolved when some future event occurs or fails to occur. FASB ASC Topic 450, \"Contingencies,\" state that when a contingent liability exists, the likelihood that the future event will result in a loss or impairment of an asset or the incurrence of a liability can be classified into three categories: Probable. The future event is likely to occur. If the event is probable and the amount of the loss can be reasonably estimated, the loss is accrued by a charge to income. Reasonably possible. The chance of the future event occurring is more than remote but less than likely. When the outcome of the event is judged to be reasonably possible or the amount cannot be estimated, a disclosure of the contingency is made in the footnotes to the financial statements. Remote. The chance of the future event occurring is slight. In general, loss contingencies that are judged to be remote are not disclosed in the footnotes. Examples of contingent liabilities include: pending or threatened litigation, actual or possible claims and assessments, income tax disputes, product warranties or defects, guarantees of obligations to others, and agreements to repurchase receivables that have been sold. 4. Discuss the steps used by an auditor to evaluate an entity's ability to continue as a going concern. Auditing standards (AU 341) indicate that the auditor has a responsibility to evaluate whether there is a substantial doubt about an entity's ability to continue as a going concern for a reasonable period of time. The auditor should follow three overall steps in making the going-concern evaluation: First, consider whether the results of audit procedures performed during the planning, performance, and completion of the audit indicate whether there is substantial doubt about the entity's ability to continue as a going concern for a reasonable period of time. Second, if there is a substantial doubt, the auditor should obtain information about management's plan to mitigate the going concern problem and assess the likelihood that such plans can be implemented. Third, if the auditor concludes, after evaluating management's plans, that there is substantial doubt about the ability to the entity to continue as a going concern, he or she should consider the adequacy of the disclosures about the entity's to continue and include an explanatory paragraph in the audit report. Auditing standards identify four major categories of conditions or events: negative financial trends, other financial difficulties, internal problem, and external matters. 5. Which professional and regulatory bodies establish the ethical and professional rules for auditors of: (1) public companies and (2) private companies? The principles, rules and regulations that govern ethics and professionalism for auditors of public companies are established by the PCAOB, the SEC and the ISB. The rules for private companies' audits are established by the AICPA and the ISB. 6. There are several important disclosure items to consider when auditing the purchasing process. Discuss what they are and why they are important. Payable by type: this allows the user to determine how much of the payables relate to the normal trade or business compared to other payables. Short and long-term payables: for the purposes of a classified balance sheet Long-term purchase contracts, including any unusual purchase commitments. This requirement is to inform the users of what the agreement entails and can help them make decisions about the company. Related-party transaction: these transactions must be identified separately on the financial statements, since they are not made at arms-length and are considered differently by potential users of the financial statements. Cost by reportable segment of the business: this would allow the users to evaluate separate segments of the entity individually. 7. Identify the two primary types of subsequent events that require consideration by management and evaluation by the auditor and give two examples of each type Events that provide additional evidence about conditions that existed at the date of the balance sheet and affect the estimates that are part of the financial statement preparation (type I events). Examples include declaration of bankruptcy by a customer with an outstanding accounts receivables balance and the settlement of litigation at an amount different from the amount already recorded on the books. Events that provide evidence about conditions that did not exist at the date of the balance sheet but arose subsequent to that date (type II events). Examples include a decline in the market value of securities held for temporary investment or resale during the subsequent period and loss due to natural disaster after the balance sheet date. 8. Generally, is the inherent risk level for the human resource management process set at low, moderate or high? For what area of the process might the appropriate level differ from the previous answer? Why? Inherent risk is normally set low for the human resources management process, due to the small number of inherent risk factors that affect the process and its related accounts. Hence, this is only true for non-officers. An inherent risk for officer compensation may be set higher, due to the opportunity and motive of officers to take advantage of their higher ranking offices in the form of excessive compensation. 9. What inherent risk factors should an auditor consider when auditing the revenue process of a computer manufacturer? The auditor will want to consider industry-related factors such as the high competition of the industry, as well as the high rate of technological change. If the company is unable to keep up with the competition, they may try to cover the poor performance with inflated sales. The auditor will also want to consider any long-term contracts the manufacturer may be in the process of completing. The timing of the revenue recognition for a large project could have a significant impact on the financial statements. Accounts that may be difficult to audit, such as allowance for uncollectible accounts and any prior misstatements in the financials may also increase the inherent risk assessment of the auditor. 10. Which type of confirmation is used more frequently by auditors? Accounts receivable confirmations or accounts payable confirmations? Why? Auditors typically use confirmation for accounts receivables rather than accounts payable because of the reliability of other evidence. To test accounts payable, the auditor can examine vendor invoices and vendor statements. These documents originate from sources outside of the entity being audited and are therefore, considered very reliable. Documentation for accounts receivable is normally generated within the entity, so confirmations provide a more reliable way of testing the account

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