AUDITING RMU
AUDITING RMU
11th Edition
ISBN: 9781260934830
Author: MESSIER
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Chapter 20, Problem 20.7RQ
To determine

Concept Introduction:Auditor legal liability includes the legal activities against or for the auditors. The auditor is in the contractual relationship with theclient and if he does not perform according to the terms of the contract, the client can claim against the auditor.As per the common law, the auditor is liable for the negligence, breach of contract, and fraud procedure claimed by the clients.

To describe: The elements that plaintiff must prove in order to win action under rule 10b-5 of the securities exchange act 1934 and significance outcomes for auditor liability

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