Auditor's Letter Handbook

The Auditor's Letter Handbook, Second Edition contains the original 1975 Statement of Policy Regarding Lawyers' Responses to Auditors' Requests for Information. Much has changed since the American Bar Association Statement of Policy Regarding Lawyers' Responses to Auditors' Requests for Information (the ABA Statement) and the American Institute of Certified Public Accountants' (AICPA) related Statement of Auditing Standards No. 12 (SAS 12) were approved in December 1975 and January 1976, respectively. The Second Edition addresses the increased emphasis on: - the quality of loss contingency disclosure; - a new regulatory regime for the accounting profession established by the Sarbanes-Oxley Act of 2002; - the increasing relevance of international accounting and auditing standards; - the expansion of cross-border practice by law firms; - and much more This resource is a must-have for inside and outside counsel in dealing with the auditor's need for corroboration of information furnished by management concerning litigation, claims, and assessments. It comprises a consolidated presentation of the principal official pronouncements and unofficial commentaries on the subject of audit inquiries and lawyers' responses.