Examining Compliance Documents: Lawyer's Task in Striking a Balance Between Accountant Requests and Corporate Secrets
On September 11, a Strafford webinar panel titled "Audit Response Letters and Disclosures: Counsel’s Role in Balancing Auditor Demands and Company Privileges" will take place online. The webinar, moderated by Strafford’s Senior Legal Editor, Mark Sotkiewicz, will feature Alan Wilson and Kenneth McKay, principals at McKay Law Offices.
The discussion will centre around the complex legal issues that counsel face when determining what information to disclose in response to audit requests. The evolving landscape of regulatory and tax law changes will be a significant focus, as well as the growing importance of accurate, clear, and legally compliant audit response letters in mitigating legal risks.
Counsel must carefully navigate increased regulatory expectations in 2025 and recent tax legislation impacts that influence disclosure considerations. They must assess the scope and nature of disclosures, evaluating materiality and potential impacts on shareholder and regulatory communications, while appropriately protecting privileged information and fulfilling auditors' legitimate needs.
The webinar will provide practical guidance on drafting effective audit response letters, addressing the delicate balancing act between transparency to auditors and protecting client legal interests. It will also include a question and answer session at the end for attendee inquiries. The webinar will last for 60 minutes and offer ethics credits for attendees. Registration for the webinar is open to the public, and it will be recorded and made available to registrants for later viewing.
[1] These points summarise the key trends that will be discussed during the webinar.
- In the context of the evolving business landscape, the webinar will delve into the crucial role of accurate and legally compliant audit response letters in finance, particularly in mitigating legal risks and responding to audit requests.
- As counsel grapple with the complexities of tax law changes and increased regulatory expectations, the discussion will emphasize the importance of balancing disclosure requirements, protecting privileged information, and fulfilling auditor needs in the field of finance and business.
