Auditing & Assurance Services (Auditing and Assurance Services)
Auditing & Assurance Services (Auditing and Assurance Services)
7th Edition
ISBN: 9781259573286
Author: Timothy J Louwers, Allen Blay, David Sinason Associate Professor, Jerry R Strawser, Jay C. Thibodeau Associate Professor
Publisher: McGraw-Hill Education
Question
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Chapter C, Problem 73EP

a.

To determine

State the demonstration that must be made by investors to bring suit against Person L under this act.

b.

To determine

State the potential liability of Person L to investors if Person L audit is characterized as demonstrating:

  1. (1) ordinary negligence,
  2. (2) gross negligence
  3. (3) Fraud

c.

To determine

Repeat parts (a) and (b) by assuming that investors are bringing suit under the securities exchange act of 1934.

d.

To determine

State the primary differences in Person L’s liability to investors under the securities act of 1993 and the securities exchange act of 1934.

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Chapter C Solutions

Auditing & Assurance Services (Auditing and Assurance Services)

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