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tmason tmason
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A year ago
The most significant audit issue that came as a result of the court decision in the Escott et al. v. BarChris Construction Corporation case in 1968 was

▸ the court's reaffirmation that the burden of proof was on the plaintiff to prove the auditor was negligent.

▸ the affirmation of an increase in the auditor's responsibility when performing a review of events subsequent to the balance sheet date (S-1 review) for registration statements.

▸ the increased auditor responsibility when associated with unaudited financial statements.

▸ the court's refusal to allow the percentage-of-completion method of accounting for revenues.
Textbook 
Auditing and Assurance Services

Auditing and Assurance Services


Edition: 17th
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szsz
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A year ago
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tmason Author
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A year ago
Helped a lot
patod1
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Yesterday
You make an excellent tutor!
ethom947
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2 hours ago
Smart ... Thanks!
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