FINANCIAL STATEMENT REPORTING OF PENDING LITIGATION: ATTORNEYS, AUDITORS, AND DIFFERENCES OF OPINIONS.
- Resource Type
- Essay
- Authors
- Koprowski, W. R.; Arsenault, Steven J.; Cipriano, Michael
- Source
- Fordham Journal of Corporate & Financial Law. 2010, Vol. 15 Issue 2, p439-458. 20p.
- Subject
- *FINANCIAL disclosure
*ACTIONS & defenses (Law)
*ACCOUNTING standards
*AUDITING standards
*ATTORNEY & client
*AUDITORS
ESSAYS
- Language
- ISSN
- 1532-303X
An essay is presented on financial statement disclosures concerning pending litigation. The U.S. accounting and auditing standards applicable to pending litigation are discussed. Issues raised by communications between attorneys and auditors are identified which include the attorney-client privilege, work product doctrine, and the American Bar Association (ABA) guidelines on communications with a client's auditor. The significant role played by the auditor in solving such issues is noted.