An auditor's working papers are records of the procedures and tests used, the information generated and the conclusions reached in the audit process. In the absence of an express agreement specifying that these papers are the property of the client, auditors are usually considered the owners of the working papers. This generally holds true whether the papers are prepared manually or by compute processing. However, ethical rules dictate that auditors return the books and records owned by their clients.
... ownership or confidential communications any different than when working papers are manuall...At common law there is no privileged communication between an auditor or accountant and...
This document contains notices of pendency before the Department of Labor (the Department) of proposed exemptions from certain of the prohibited transaction restrictions of the Employee Retirement Income Security Act of 1974 (ERISA or the Act) and/or the Internal Revenue Code of 1986 (the Code). This notice includes the following proposed exemptions: D-11517, JPMorgan Chase & Co. and its Current and Future Affiliates and Subsidiaries (JPMorgan Chase); D- 11579, Delaware Charter Guarantee & Trust Co. d\b\a\ Principle Trust Company (Principle Trust); D-11628, Aztec Well Servicing Company and Related Companies Medical Plan Trust Fund (the Plan); D-11669, Genzyme Corporation 401(k) Plan (the Plan or the Applicant); and Retirement Program for Employees of EnPro Industries (the Plan),...
... or financial information which is privileged or confidential; and. (3) Should JPMorgan Chas... holding of ARS by various JPMorgan Chase clients, including the. Page 77597. Plans, JPMorgan Chase ... states that while there may be communication between a Plan and JP Morgan Chase subsequent to a... (v) An independent accounting firm (the Auditor) at least annually audits the payments made by Pri...
... three types of legal privilege: solicitor-client privilege, common interest privilege and litigatio... privilege protects from disclosure communications made in confidence between a lawyer and a client f... gives advice on Canadian law - is it privileged? Or if a Canadian lawyer gives advice on foreign l.... What about sending information to auditors? . In Philips v. OSC, the Ontario Divisional Court...
... accountant firm, as the independent auditor for respondent corporation, was responsible for re... and refusing to recognize an accountant-client privilege that would protect the workpapers, order... workpapers, sought to facilitate communication between independent auditors and their clients, it... obtain discovery of "any matter, not privileged, which is relevant to the subject matter involved ...
... documents are shared with an outside auditor, whether work-product protection is waived under a... 24, 2010, making actions to protect privileged documents more important. (3) . As discussed in an... are somehow protected under the attorney-client or statutory tax practitioner privilege. In fact, ... memoranda, opinions, and other communications, the taxpayer should make appropriate references t...
...[an] interstate means of communication, or any other interstate instrumentality." (158) I... to the allegedly violative conduct of the client, then the defense becomes unavailable to the defen... on share purchases of a virtual privileged company); Albanese v. Fla. Nat'l Bank of Orlando, ...1995) (upholding convictions of an auditor and his friend who violated Rules 10b-5 and 14e-3 ...
Internal auditors seem to be in need of the same privilege that protects the confidentiality of communications between attorneys and their clients. This privilege was provided to prevent attorneys and their clients from testifying about confidential information. A similar protective measure could benefit internal auditors since they, like their colleagues in the legal profession, are often called upon to undertake sensitive investigations. They, too, have a duty to keep client communications confidential as required by Sections II and VIII of the Institute of Internal Auditors' 'Standards for the Professional Practice of Internal Auditing.' However, since such a privilege is not yet recognized, one way that internal auditors can protect the confidentiality of client communications is to...
...* A communication. . * Made between "privileged persons." . * In confidence. . * For the purpose o...
..., entertainment, or academic communications media groups." In Rosenberger v. Board of Visitor... poor in civil matters) from representing a client who seeks "to amend or otherwise challenge existin... from public records is absolutely privileged. Thus, the State could not permit a civil recovery... impractical for the unwilling viewer or auditor to avoid exposure, government may not censor conte...
... like to ask you some questions about your client, John Smith, for whom you've prepared numerous fed...The client's communication with his or her CPA in a criminal tax matter at thhis point is not privileged. Thus, CPAs could be placed in the position of bei... suspension of the examination by the auditor; however, lengthy delays in the examination proces...
Pending litigation can be a significant source of potential liability for public companies. The lack of adequate disclosure of this potential liability has caused confusion for investors, lenders, and other financial statement users. Auditors are required to assess the appropriateness of financial statement disclosures regarding pending litigation. However, the auditor's ability to do so depends upon receiving information from the company's attorneys. As independent auditors, Certified Public Accountants express their opinion regarding the reliability and integrity of a publicly traded company's financial statements based upon their examination and testing of the company's books and records. The authors' recommendation is that the auditor should consider limiting the scope of the audit ...
... IV identifies the issues raised by communications between attorneys and auditors, including the attoorney-client privilege, the work product doctrine, and the Amer..., the privilege may be waived if the privileged communications are made available to a third party...
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