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True Sale Opinions – What You and Your Auditor Need to Consider
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True Sale Opinions – What You and Your Auditor Need to Consider
A true sale opinion is an attorney’s conclusion that transferred financial assets have been sold and are beyond the reach of a transferor’s creditors and that a court would conclude that the assets would not be included in the transferor’s bankruptcy estate. There are many considerations related to these types of opinions, perhaps most importantly is how they are evaluated and whether they can be relied on as evidence. In this course, we explore many of the burning questions as it relates to true sale opinions.
Learning Objectives
Upon completion of this course, you will be able to:
Course Overview
A true sale opinion is an attorney’s conclusion that transferred financial assets have been sold and are beyond the reach of a transferor’s creditors and that a court would conclude that the assets would not be included in the transferor’s bankruptcy estate. There are many considerations related to these types of opinions, perhaps most importantly is how they are evaluated and whether they can be relied on as evidence. In this course, we explore many of the burning questions as it relates to true sale opinions.
Learning Objectives
Upon completion of this course, you will be able to:
• Recognize when a true sale opinion is generally required to be obtained
• Identify considerations regarding whether internal legal counsel can issue a true sale opinion
• List specific language that should not be included in a true sale opinion
• Recognize characteristics of a nonconsolidation opinion
Course Number:
KC47
NASBA Field of Study:
Accounting
Level:
Basic
Author/Instructor:
Kelen F. Camehl, CPA, MBA
Publication Date:
March 2024
CPE Credits:
1
KC47
NASBA Field of Study:
Accounting
Level:
Basic
Author/Instructor:
Kelen F. Camehl, CPA, MBA
Publication Date:
March 2024
CPE Credits:
1
Prerequisites:
None
Advanced Preparation:
None
None
Advanced Preparation:
None
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