What Lawyers Need to Know About the Codification of Accounting Standards by Michael A. Gillen and Steven M. Packer

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Financial statements play an integral role in business as well as a multitude of legal matters, including, but not limited to, bankruptcy, mergers and acquisitions, shareholder disputes, fraud and class action activities. As a result of the widespread use of financial statements, lawyers should be aware of a major change in structure and hierarchy of accounting standards occurring this month. These changes will affect auditors, preparers of financial statements and educators as well as lawyers counseling clients in many areas including regulatory, transactional and litigation matters.

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Published In: Bankruptcy Updates, General Business Updates, Finance & Banking Updates, Mergers & Acquisitions Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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