Borings and test pits in existing fill provide a glimpse of what might be in fill, and that is all. However, what is interesting is that that by doing this and providing an opinion regarding the suitability of the fill to perform, we are actually exposing ourselves to greater liability than doing so in natural formations (as it should; who really knows what occurred during fill construction).
I've seen numerous sites where "reputable" real estate brokers, contractors and even owners have adamantley defended the quality of fill and workmanship performed years before on property, and then during final site development find unsuitable fill material, debris, bury pits, and even old automobiles. When that happened the owner, contractor and other parties tended to look toward their geotechnical engineer that presented such an opinion, primarily to contribute to relief of the problem.
Since the propety seller/buyer and/or developer is in essence making money by not spending money to construct such fill to engineered standards (observation, tests, and documetation) and you by accepting this assignment are transfering risk to you (through your opinion), make sure you have a clear written agreement that will stand up in court as to who will be responsible for addressing delays and additional engineering and/or construction on the project.