RE:RE:RE:RE:RE:RE:How was this resolved? Spirou25 wrote: Michel1234 wrote: Concerning the tax litigation.
The year-end financial statements are audited by a big accounting firm. Until the amount paid to the tax authorities stay recorded as an account receivable, it should generally mean that the auditor accept the management position that it is more likely than not that Knight will eventually get a refund once the litigation is over.
Michel
Reality in sometimes different than that unfortunately. If you are/have been an auditor yourself I am pretty sure you know what I am refering to.
The money is gone, so it's not gonna affect out cash flow in the future if we cannot get the refund. On the other hand, it will be a huge plus if we get that money back. So the risk is none while the upside is big.