Auditing: A Risk Based-Approach (MindTap Course List)
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN: 9781337619455
Author: Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher: Cengage Learning
Question
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Chapter 4, Problem 1RQSC
To determine

Litigation Risk: The risk analysis by which it can be determined that the legal action can be taken against the company is regarded as litigation risk analysis.

Litigation risk is the risk that a legal action might be taken against the company. The litigation risk analysis provides the assessment to determine whether there is a chance that a legal action could be taken against the company in the future.

: The elements that provide incentives to practice litigation against audit firms under litigation environment.

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