The GAAP Between Legal and Illegal: Financial Self-Reporting Webinar

Some illegal acts have a direct and material effect on the determination of financial statement amounts, and must be addressed from both an auditing (GAAS) and disclosure (GAAP or IFRS) standpoint. This workshops addresses the tension between confidentiality and loyalty, on one hand, and disclosure requirements on the other, faced by accountants at public accounting firms and in business and industry. 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:

• Understand and articulate the tension between the professional duty of loyalty to client and employer, on the one hand, and the duty, under the appropriate circumstances, to investigate and possibly disclose illegal activities, on the other.
  
• Recognize typical situations that call for an attempt by auditors to determine whether reportable illegal acts have occurred.
  
• Suggest tasks such as reading minutes, making inquiries of management and the client's legal counsel, examining supporting documents, and testing the details of transactions and balances with third parties, in an effort to detect or investigate possible misstatements resulting from illegal acts.

Highlights

• Corporate Duty to Disclose Illegalities
  
• Auditor Duty to Investigate Potential Illegalities
  
• Whistleblower Protections
  
• Cases and Controversies