Professor Elam

what issues does this raise for the outside auditor? What will fair value be?  What is an empty office building in a recession worth? What would you want the owners to guarantee if you were the outside auditor?

Another dimension of the outside audit is client selection. Would you want Opus as a client?

What is a super priority lien in bankruptcy court?  Would you know to ask for one?

Are you familiar with the fair value rules, impairment tests?

This auditing thing is getting a lot more difficult.