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An entity has violated a minor requirement of its bond indenture that could result in the trustee requiring immediate payment of the principal amount due.
An entity has violated a minor requirement of its bond indenture that could result in the trustee requiring immediate payment of the principal amount due. The entity refuses to seek a waiver from the bond trustee. Request for immediate payment is not considered likely. Under these circumstances, the auditor must: A) obtain an opinion from the company's attorney as to the likelihood of the trustee's enforcement of the requirement. B) contact the bond trustee directly. evaluate whether there is substantial doubt about the entity's ability to continue as a going concern. C) OD) require classification of bonds payable as a current liability
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