Gringotts and Diagon, CPAs completed the December 31, 2019 audit of Hogwarts, Inc. on February 10, 2020. After the audit report release date, an outstanding lawsuit against Hogwarts, Inc. was settled for materially more than recorded in the December 31, 2019 financial statements. The amount recorded in the financial statements represented the best estimate of management and the company's attorneys at the time the audit was completed. Based on this new information, Gringotts and Diagon, CPAs should advise the client to make appropriate changes in the financial statements and reissue them determine whether pers are currently relying on the auditors" reports take no action since the event took place after the audit report release date notify each member of the board of directors of Hogwarts in