Question

Which of the following items is not typically requested from the lawyer of a company regarding contingencies?

a. Any limitations on the lawyer's response such as not devoting substantial attention to the item or that the amounts are not material.

b. Information about the attorney's other clients with similar contingencies.

c. A description of each contingency, as well as progress and action that the company plans to take.

d. A comment on the completeness of management's list of contingencies and an evaluation.

Answer 1

A company's lawyer is not typically asked to provide information about other clients with similar contingencies; confidentiality rules prevent such disclosures.

Step-by-step explanation:

When dealing with contingencies and the disclosure requirements for a company, the item not typically requested from the company's lawyer is b. Information about the attorney's other clients with similar contingencies. Privacy and confidentiality rules would preclude a lawyer from disclosing information about other clients. On the other hand, a lawyer can be expected to provide comments on any limitations regarding their response (a. Any limitations on the lawyer's response), a description and status of each contingency (c. A description of each contingency), and an evaluation of the management's list of contingencies (d. A comment on the completeness of management's list of contingencies and an evaluation).