Assume that shortly after the balance sheet date and before the audit report date, auditors learned that the company has settled a lawsuit against it that was litigated for over a year. Which of the following actions are auditors likely to request from the company's management? Group of answer choices Update the disclosure that was already likely in the financial statements Update the financial statements to reflect the amount of the settlement payable Recognize the settlement payable in the financial statements of the year when the lawsuit was settled, since the event occurred after the Balance Sheet date Both A & B