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.

Course Publication Date: October 20, 2022

This course is available with NO ADDITIONAL FEE if you have an active self study membership or all access membership or can be purchased for $10.00!

Author:Kelen Camehl
Course No:ACT-TRUESALES-25002
Recommended CPE:1.00
Delivery Method:QAS Self Study
Level of Knowledge:Basic
Prerequisites:None
Advanced Preparation:None
Recommended Field of Study:Accounting
  
Learning Objectives
  • 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.

CPE Depot Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

Sponsor Number: 109423

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