[The following paragraph was amended, effective for audits of fiscal years beginning on or after December 15, 2010. See PCAOB Release No. 2010-004.
Return to the current version.]
Return to the current version.]
.05
Use of a legal specialist may not be necessary to obtain competent evidential matter to support management’s assertion that the isolation criterion is met in certain situations, such as when there is a routine transfer of financial assets that does not result in any continuing involvement by the transferor. fn 4
[Issue Date: December, 2001.]