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What Lawyers Need To Know About Accounting Judgments

March 14, 2024

Accounting judgments are unavoidable and subjective. Despite the volumes of accounting standards and guidelines that exist, they are not and cannot be prescriptive to every industry, transaction, or contractual situation. The risk of misjudgment in accounting and financial reporting only increases in the context of economic turbulence, regulatory scrutiny and internal pressure to show performance to stakeholders.  

For these reasons, accounting judgments often lie at the heart of investigations and enforcement actions. How can lawyers and advisors help mitigate the risk of accounting misstatements, and the legal and reputational consequences that could result when misstatements are found?

In this 45-minute webinar, FRA experts draw on real case studies to explain key areas of accounting judgments that lawyers need to know. Get in touch with FRA partners Derek Patterson, Neil Keenan and Toby Duthie to continue the discussion, or request a teach-in for your law firm.  

Key Insights  

  1. Economic, regulatory and internal factors that influence judgment (5:45)
  2. What are accounting judgments and why do they matter? (15:15)
  3. Case studies on four key areas susceptible to manipulation or overstatement (17:15)
  4. Recommendations for mitigating risk of accounting misstatements (33:37)
  5. What next when there is a potential misstatement (38:05)
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