Why would the Exposure Draft erode the protections of the attorney-client privilege and work product doctrine?
Ide: There is mixed case law about whether or not giving information to your client’s auditor is a waiver. The better view is that there is a “common interest” waiver protection, but unfortunately there is enough bad case law out there that you have to assume that, if the lawyer gives Privileged information to the auditor, either directly or through the client, then there is a risk of waiver. Waiver will also be claimed for furnishing investors, through disclosures in the financial statements, estimates and evaluations required by the Exposure Draft (the underlying basis having been obtained from counsel). That will give the plaintiff access to information that would otherwise be unavailable and reduce the likelihood that the defendant will be able to mount a successful defense. It also chills the ability of the client to fully confide in the lawyer who is handling the matter. Editor: The deadline for filing comments on the Exposure Draft was August 8. What further steps are contemplat
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