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DRAFT FOR ATTORNEY REVIEW — NOT FINAL

Dunn v. Enterprise Rent-A-Car Co., 170 S.W.3d 1 (2005)

Citation
Dunn v. Enterprise Rent-A-Car Co., 170 S.W.3d 1 (2005)
Parent Document
Dunn v. Enterprise Rent-A-Car Co., 170 S.W.3d 1 (2005)
Jurisdiction
Missouri (state)
Effective Date
2005-04-12

Other Sections in This Document (84)

Full Text

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In order for a company to offer stock to the public, it must file a Form S-l with the SEC. With respect to the Form S-l, as corporate comptroller, Dunn testified he was responsible for preparing Enterprise’s financial statements in accordance with GAAP. The financial statements would be provided to and audited by Enterprise’s auditor, Ernst & Young. During the audit process, Dunn and other senior managers would be asked to sign a management representation letter, certifying that the financial statements were prepared according to GAAP. Ernst & Young would then issue an audit opinion letter attached to the Form S-l, stating that the financial statements were prepared according to GAAP. Dunn testified that Ernst & Young would depend and rely upon Enterprise’s representations in certifying to the SEC that Enterprise’s financial statements were prepared according to GAAP.