Investigating Correspondence Regarding Audits and Disclosures: Legal Guidance on Meeting Auditor Requirements While Protecting Company Secrets
On Thursday, September 11, Strafford will host a webinar titled "Audit Response Letters and Disclosures: Counsel's Role in Balancing Auditor Demands and Company Privileges." The webinar will be moderated by Strafford and will feature panelists Alan Wilson and Kenneth McKay, principle at McKay Law Offices.
The webinar will be a valuable resource for professionals seeking to understand the intricacies of audit response letters and disclosures. It will address the complexities of navigating legal issues in determining what information to disclose in audit response letters, as well as the challenges in balancing transparency with legal protections.
The panel will focus on the role of counsel in balancing auditor demands and company privileges, and will address the complicated legal issues counsel must navigate in determining what to disclose in their responses. The discussion will also highlight the evolving legal considerations driven by changes in tax legislation and regulatory expectations in 2025, which impact the content and approach to disclosures in these letters.
Key points from the webinar include:
- Counsel’s critical role in balancing transparency with legal protections in audit response communications.
- Awareness of new tax laws and regulatory changes in 2025 that require updates in audit disclosures to ensure compliance without over-disclosure.
- Challenges in determining what legal issues must be disclosed versus what can remain confidential under attorney-client privilege.
- Strategies to mitigate legal risks associated with disclosures, avoiding inadvertent admissions or expanding auditor inquiries beyond appropriate scope.
- Practical guidance on drafting letter language to carefully calibrate disclosures considering both audit demands and client confidentiality.
While the webinar specifically addresses these themes in the 2025 context, it underscores an ongoing trend towards heightened legal scrutiny of audit correspondence and the increasing importance of counsel’s expertise to manage these disclosures appropriately.
The webinar is a must-attend event for professionals working in the field of audit response letters and disclosures, and anyone looking to gain a deeper understanding of the legal issues surrounding these matters. Don't miss this opportunity to learn from the experts and gain valuable insights into this critical area of practice. Register now for the Strafford webinar on September 11.
The webinar will be a valuable resource for professionals working in the field of business, particularly those dealing with finance, as it offers insights into the complexities of audit response letters and disclosures. The panel will provide practical guidance on drafting disclosure language while maintaining confidentiality, addressing the challenges of balancing audit demands and legal protections.
