Hd ASK Covenant is violated and a waiver is obtained, the auditor needs to ensure the covenant is appropriately of the balance sheet date), and that it extends to one year from the balance sheet date in order to avoid classifyi related debt as a current liability Print References 1. A waiver needs to be received from the 2. Covenants are typically calculated as of 3. Walvers must be dated the same date as the 4. Waivers must extend for a period of 5. Covenant violations should still be disclosed in the accountant auditor bank/lender CFO client