From the SECs website (www.sec.gov), access any companys 10- K and review its footnote disclosures related to
Question:
From the SEC’s website (www.sec.gov), access any company’s 10- K and review its footnote disclosures related to pending litigation.
Required:
a. Briefly summarize the nature of pending litigation facing the company you selected.
b. From the auditors’ perspective, what is the primary concern with respect to the disclosure of pending litigation?
c. Identify the responsibility of the company, the auditor, and its attorneys with respect to the presentation and disclosure of this pending litigation.
d. What information included in the disclosure you selected would have been included in attorney letters? What is the attorney’s responsibility with respect to this information?
Step by Step Answer:
a See the Note to Instructor b The auditors primary concern with respect to the dis...View the full answer
Auditing and Assurance Services
ISBN: 978-0077862343
6th edition
Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Straws
