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carlvh37 carlvh37
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A year ago
Under the Securities Act of 1933,

▸ any party who relies on the company's audited financial statements can recover from the auditors.

▸ third-party users must prove that the auditor was negligent.

▸ the burden of proof is on the defendant.

▸ auditors face potential legal exposure for information contained in the Form 10-Q.
Textbook 
Auditing and Assurance Services

Auditing and Assurance Services


Edition: 17th
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ordinarykathyordinarykathy
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A year ago
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carlvh37 Author
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Just got PERFECT on my quiz
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