February 3, 2023

Webinar

1 CPE

Webinar (CPA Crossings): Attorney Audit Inquiry Letters

February 3, 2023
Webinar
1 CPE

Webinar (CPA Crossings): Attorney Audit Inquiry Letters

  • Instructor

    Raymond
    Rowe

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.

Learning Objectives

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.

Major Topics

The major topics covered in this class include:

  • Loss contingency disclosures from attorney’s viewpoint, including confidential disclosures
  • How the American Bar Association policy affects an attorney’s answer
  • Problems with unasserted claims
  • When loss must be accrued and when it must only be disclosed
  • Communicating with a client’s attorney to obtain the necessary information needed for the audit

CPE Credits Available

1 CPE
1
Auditing

Things to Know About This Course

Course Level

  • Overview

Prerequisites

None

Advanced Preparation

A review of ASC 450-20-20 and ABA Policy Statement on audit letters available at americanbar.org would be helpful.

Intended Audience

CPAs involved in audits

Provider

CPA Crossings, LLC

This event has ended.