Page 438 - Auditing Standards

As of December 15, 2017

term basis and basis. [Complete with appropriate wording detailing
management intends to how amounts will be refinanced as follows:]
do so.

• The company has issued a long-term obligation
[debt security] after the date of the balance sheet
but prior to the issuance of the financial statements

for the purpose of refinancing the short-term
obligations on a long-term basis.

• The company has the ability to consummate the

refinancing, by using the financing agreement
referred to in Note [X] to the financial statements.

Tax-exempt bonds have Tax-exempt bonds issued have retained their tax-

been issued. exempt status.

Taxes We intend to reinvest the undistributed earnings of
Management intends to [name of foreign subsidiary].

reinvest undistributed
earnings of a foreign

subsidiary.

Contingencies Provision has been made for any material loss that is
Estimates and probable from environmental remediation liabilities

disclosures have been associated with [name of site]. We believe that such
made of environmental estimate is reasonable based on available
remediation liabilities information and that the liabilities and related loss
and related loss contingencies and the expected outcome of

contingencies. uncertainties have been adequately described in the
company's financial statements.

Agreements may exist to Agreements to repurchase assets previously sold

repurchase assets have been properly disclosed.
previously sold.

Pension and We believe that the actuarial assumptions and

Postretirement Benefits methods used to measure pension liabilities and
An actuary has been costs for financial accounting purposes are

used to measure appropriate in the circumstances.
pension liabilities and
costs.

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