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The information wouldn’t be reliable anyway

# data[].attributes.subject
The information wouldn’t be reliable anyway

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If a company is trying to win a major lawsuit, disclosing to an auditor or in its financial statements that it expects to lose is not a good strategy. A lot of companies would likely say they have a much better chance of victory than they actually do either due to their own bias or to make themselves look better and not impact the pending legislation.

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They shouldn’t have to disclose something that may not happen or potentially influence the pending case

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Financial reporting needs to be accurate in order to help allocate capital to the market. To make sure this happens appropriately, financial reporting needs to be neutral. If the ABA treaty protects the interests of the corporations facing litigation, then the resulting financial reports are not neutral.

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There is a meaningful downside to reporting these contingencies, and the current system only provides a rough estimate. Contingencies should be reported in notes at the amount the prosecutor is seeking to give a worst-case scenario estimate.

# data[].attributes.body
If lawyers had to disclose they thought they would lose a case for financial reporting purposes, the court system would see this as as the party giving up the lawsuit and charging them for the loss

# data[].attributes.headline
They should not be forced to report something that has a possibility of not happening. It should be reported when it occurs though. 

# data[].attributes.subject
They should not be forced to report something that has a possibility of not happening. It should be reported when it occurs though. 

# data[].attributes.body
The information could negatively affect the company’s image. I don’t think that the loss amount should be reported but if a loss could occur it should be noted so that interests to the company are well aware of the situation.

# data[].attributes.body
financial reporting seeks to be as conservative as possible, and I believe that the uncertainty of a case in court could jeopardize this if it must be reported

# data[].attributes.body
Shouldnt have to disclose until after lawsuit/case is complete. Having to report on statements would get rid of confidentiality

# data[].attributes.body
Should be consistent with neutrality principle

# data[].attributes.body
Personal judgement on having a “slight” chance of being wrong doesn’t seem sufficient enough and could be inconsistent

# data[].attributes.body
I think they don’t need to report something that may or may

# data[].attributes.body
They should not have to

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Auditors need as much information as possible in order to do their jobs and make sure information about companies is accurately portrayed to shareholders

# data[].attributes.body
Clients shouldn't have to disclose information until it occurs.

# data[].attributes.body
the lawyers' job is to protect their clients interest, but they are withholding information that may be very important to the investors.

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Informing clients of an 'estimate' is too risky. What something completely opposite of what was predicted occurs instead?

# data[].attributes.body
Th lawyers are simply trying to protect their clients. Lawyers work in the interest of their clients

# data[].attributes.body
If they have to dosclose, this would hurt there chances in a their court case

# data[].attributes.body
It would be in the clients best interest as the uncertainty could end up harming them either way

# data[].attributes.body
It may affect the outcome of the case if information is disclosed to the public through financial statements and reporting a loss that is not guaranteed is very conservative accounting

# data[].attributes.body
Lawyers might say they have a higher probability of winning than what is actually true

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Should be neut

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AICPA inhibits financial reporting because if lawyers give predictions on the outcome of lawsuits, the company can act accordingly to offset any negative consequences on their financial statements.

# data[].attributes.body
They shouldn't have to disclose