Faye Jaworski, CPA, is auditing the financial statements of Fulbright Company. As she is nearing the audit completion date, Jaworski realizes that she needs to evaluate whether all material contingencies are properly accounted for and disclosed in Fulbright's financial statements. Because of its size, Fulbright has retained external counsel (Vinson, LLP) to handle its various legal matters. Required: a. Select from the list below some common procedures that Jaworski will perform with respect to Fulbright's litigation, claims, and assessments Perform substantive analytical procedures to evaluate recorded amount of lignation, claims, and assessments. 7 Read contracts, loan agreements, leases, and correspondence from taxing or other governmental agencies Obtain information concerning quarantees from bank confirmations. Inquire of management regarding litigation, claims, and assessments. 2 Obtain assurance from management that it has disclosed all material unasserted claims the lawyer has advised them are likely to be 3 tigated Examine documents in the client's possession concerning litigation, claims, and assessments, including correspondence and invoices from lawvers.