Under ASC 450-20-20, SAS 12 and FAS 5, auditors must inquire into potential loss situations, and issue letters to a client’s attorney, requesting disclosures. This session addresses the controversial disclosures regarding attorney-client confidentiality and explores the differences. A goal towards the formation of adequate disclosures that do not breach attorney-client privilege will also be discussed. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
After attending this presentation, you will be able to…
Compare and contrast how CPAs and attorneys look at loss contingencies with different points of view.
The major topics covered in this class include:
CPAs involved in audits
A review of ASC 450-20-20 and ABA Policy Statement on audit letters available at americanbar.org would be helpful.