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Best Practices: Responding to U.S. Audit Inquiries

  • September 07, 2016

Canadian lawyers who represent businesses are often asked to respond to audit inquiries from their cross-border clients, and in particular, their U.S. clients. The frequency of U.S. audit inquiries is increasing with the globalization of business and accounting standards. However, the revised Joint Policy Statement on responding to audit inquiries deals only with Canadian lawyers’ responses to Canadian audit inquiries.