Read the ABA statement regarding responses to inquiries for audits.

Read the PCAOB/AICPA AU337 materials, including 0337-09, the appendix and exhibits 1 and 2.

Prepare a brief statement regarding how the documents are aligned and where they are unaligned. I suggest business memo format.

DESCRIBE five possible issues that could arise through comments of the attorney in their response to audit inquiry.

PROPOSE how you would overcome these issues, either through auditing procedures to resolve the issue or, if unresolved, what would be the impact on the audit report.

DESCRIBE the key elements of Statement of Financial Accounting Standards No. 5 (Contingencies) and how they relate to the legal inquiry we are required to do by AU337.

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