Kaplan University Identifying Loss Contingencies Discussion

Once  the audit evidence is gathered and the testing is complete, how do you  know there are no other items outstanding? To ensure the audit is  complete, it is important to examine loss contingencies.Jason  Long, CPA, has completed his examination of accounts payable and other  liabilities of the Jackson Company. He has now shifted his attention to  search for any loss contingencies by looking for litigation, claims, and  other types of assessments.