Overview of Contingent Liability Assessment and Reporting (LEG00109)

Overview

Delivery method

Virtual classroom

Duration

1.5 hours

Audience

Employees

Description

Contingent Liability and Asset information is an essential component of litigation and legal risk assessment and communication for Justice counsel. The objectives of the session are:

• To provide information and clarify the roles and responsibilities in the contingent liability process as outlined in the Directive on Contingent Liability and Asset Assessment and Reporting; and
• To provide an overview of the assessment of contingent liability information as outlined in the Guidelines on Assessing and Reporting on Contingent Liability and Assets, and how the information provided by litigators and entered into LEX feeds into the financial statements of Canada.

Topics covered

• What Contingent Liabilities Are and Are Not
• Why We Need to Assess and Record
• Overview of the Process
• Justice Responsibilities
• Client Responsibilities
• Reporting

Registration deadline: 5 working days prior to the course date.

For more information: Contact the Centre for Legal Education Services.

Participants are responsible for adding their training activities to their Outlook calendars.

For information about the continuing professional development (CPD) hours for this course, please consult the 2024 Accreditation Summary.

If you have questions concerning the accreditation, please contact our accreditation team by email (Accreditations@justice.gc.ca).