Self-Study
True Sale Opinions: What You and Your Auditor Needs to Consider
Earn the skills to identify when true sale opinions are needed, understand legal counsel's role, and avoid risky language in financial asset transfers.
Price range: $29.00 through $49.00
Webcasts are available for viewing Monday – Friday, 8am – 8pm ET,
and Saturday & Sunday, 10am – 6pm ET.
Without FlexCast, you must start with enough time to finish. (1 Hr/Credit)
 Secure Transaction CPE Credits
1 Credits: Accounting
Course Level
Overview
Format
Self-Study
Course Description
A true sale opinion is an attorney’s conclusion that transferred financial assets have been sold and are beyond the reach of a transferor’s creditors and that a court would conclude that the assets would not be included in the transferor’s bankruptcy estate. There are many considerations related to these types of opinions, perhaps most importantly is how they are evaluated and whether they can be relied on as evidence. In this course, we explore many of the burning questions as it relates to true sale opinions.
Learning Objectives
Upon completion of this course, you will be able to:
- Recognize when a true sale opinion is generally required to be obtained
- Identify considerations regarding whether internal legal counsel can issue a true sale opinion
- List specific language that should not be included in a true sale opinion
- Recognize characteristics of a nonconsolidation opinion
Course Specifics
122305281
July 2, 2026
There are no prerequisites.
None
32
Compliance Information
CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)
CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.
Meet The Experts
Kelen is a recognized author and reviewer of CPE courses and has authored over 230 courses (570+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics. Kelen remained involved in CPA exam content development for nearly 10 years and authored more than a thousand multiple-choice questions for various sections of the CPA exam. He also serves as an Editorial Advisor for the AICPA’s “Journal of Accountancy”.  Kelen has over 20 years of progressive finance and accounting experience. He currently serves as a Principal in Accounting Policy with HP. Prior to HP, he served in …
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