by Peter N. Farley, Guest Contributor
When companies set reserves, they may seek recommendations from in-house counsel and may rely heavily on those recommendations. The challenge for many in-house counsel is getting comfortable with the estimates (determined by the accounting department) that will be the basis for the amounts recorded on the financial statements, a process that can pose unique challenges. To learn more about setting reserves, read this article (PDF) by Peter N. Farley, a member of Sutherland’s Litigation Practice Group. Previously, Peter served as General Counsel for Beaulieu Group, LLC where he managed litigation, complex federal tax and product defect matters as well as the ethics, compliance and internal audit functions. Peter continues to serve as Beaulieu’s outside general counsel as a partner with Sutherland.