Legal Time Bomb: Big Accounting Firms Risk Costly Lawsuits by Reassuring Lenders

Number 793
Subject Business
Source Wall Street Journal (New York)
State New York
Year 1988
Publication Date Jan. 14, 1988
Summary Wall Street Journal article says big accounting firms are setting themselves up for trouble by writing "solvency letters"--a reassurance to lenders that a company taking on debt will remain solvent; it's a service provided for a fee but not based on an audit of a firm's finances.
Category General
Pages 3
Keywords accountants; mergers; audits; corporate raider; solvency letters
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