Are the governing partners of accounting firms subject to a due diligence requirement similar to that for corporation executives in building an ethical culture Can a firm and or its governors be sanctioned for the misdeeds of its members ...

Yes In some jurisdictions the firm can be disciplined and fined Also any lawsuit wi ...

Are the governing partners of accounting firms subject to a due diligence requirement similar to that for

Question:

Are the governing partners of accounting firms subject to a “due diligence” requirement similar to that for executives in building an ethical culture? Can a firm and/or its governors be sanctioned for the misdeeds of its members?

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...