Under the federal securities acts, one significant result occurring directly due to the Escott et al.v.Bar Chris Construction Corporation case was that SAS was changed to require:

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The Escott et al.v.Bar Chris Construction Corporation case resulted in the Securities and Exchange Commission (SEC) changing its Statement on Auditing Standards (SAS) to require greater emphasis on subsequent events procedures. This change was designed to ensure that auditors are aware of any subsequent events that may impact a client's financial statements after the end of the reporting period.

Under the Federal Securities Acts, One Significant Result Occurring Directly