Why are contingent liabilities difficult to identify?
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Contingent liabilities
A contingent liability is an obligation of business related to an uncertain future event. The business must record it in its financial statements if the amount can be reliably estimated and it is probable that amount will be paid by business as a...
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To conclude we can say that One of the key audit steps ...View the full answer
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AJIN KURIAKOSE
I HAVE ELECTRONICS ENGINEERING DEGREE..AND MY AREA OF INTEREST IS MATHEMATICS,CONTROL SYSTEM,NETWORK,DIGITAL
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Related Book For 
Auditing The Art and Science of Assurance Engagements
ISBN: 978-0133405507
13th Canadian edition
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Joanne C. Jones
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