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Author: |
Kelen Camehl, CPA, MBA |
Course Length: |
Pages: 19 ||| Word Count: 6568 ||| Review Questions: 4 ||| Final Exam Questions: 5 |
CPE Credits: |
1.0 |
IRS Credits: |
0 |
Price: |
$12.95 |
Passing Score: |
70% |
Course Type: |
Text |
Technical Designation: |
Technical |
Field Of Study: |
Accounting |
Approved Audience: |
NASBA QAS - NASBA Registry |
Key Takeaways: |
This course explores how attorneys and accountants collaborate to evaluate, recognize, and disclose legal risks such as contingent liabilities and asserted and unasserted claims.
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Frequently Asked Questions: |
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Description: |
This course explores the intersection between legal and financial reporting and focuses on how attorneys and accountants collaborate to evaluate, recognize, and disclose legal risks in financial statements. The course addresses key issues such as probable losses, contingent liabilities, asserted and unasserted claims, and how each discipline contributes to accurate and compliant financial reporting. |
Usage Rank: |
15000 |
Release: |
2025 |
Version: |
1.0 |
Prerequisites: |
None. |
Experience Level: |
Overview |
Additional Contents: |
Complete, no additional material needed. |
Additional Links: |
External: Litigation Risk: What It Means, Examples
Internal: Managing Legal Risks: The Intersection of Legal and Financial Reporting
Internal: Identifying Audit Risks: Compliance and Going‑Concern Issues
External: Litigation Risk definition and examples
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Advance Preparation: |
None. |
Delivery Method: |
QAS Self Study |
Intended Participants: |
Anyone needing Continuing Professional Education (CPE). |
Revision Date: |
09-Mar-2025 |
NASBA Course Declaration: |
Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam. |
Keywords: |
Managing Legal Risks: The Intersection of Legal and Financial Reporting - CPE course for CPAs |
Learning Objectives: |
Course Learning Objectives Upon completion of this course, you will be able to:
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Course Contents: |
Chapter 1 - Managing Legal Risks: The Intersection of Legal and Financial Reporting Course Learning Objectives Course Overview Introduction Types of Legal Risks Why Legal Risks Matter for Financial Reporting Key Concepts in Legal Risk Reporting Collaboration Between Legal Counsel and Accountants Legal Counsel vs. Accountants Review Questions Collaboration Best Practices Handling Conflicting Opinions Consideration of Outside Counsel Conclusion Review Questions Glossary of Key Terms |
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