Judge Silverstein relied on the Restatement (Second) of the Law of Torts for his ruling. Assume he
Question:
Judge Silverstein relied on the Restatement (Second) of the Law of Torts for his ruling. Assume he had relied on the "near-privity relationship" ruling in Credit Alliance, and evaluate the legal liability of the auditors using that standard?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 57% (7 reviews)
The New York Court of Appeals expanded the privity standard in the case of Credit Alliance v Arthur Andersen Coto include a near privity relationship between third parties and the accountant In the ca...View the full answer
Answered By
Hassan Imtiaz
The following are details of my Professional Experience. Responsibilities Eight years of demanding teaching experience in the field of finance and business studies at Master’s Level. Completion of the given tasks within given time with quality and efficiency. Marketing professional with practical experience in and solid understanding of a diverse range of management applications, including market analysis, sales and marketing, team building and quality assurance. I have excellent skills to approach deal and sustain corporate clients / customers by demonstrating not only extraordinary communication and interpersonal skills but also high caliber presentation, negotiation and closing skills. Manage and follow up the day-to-day activities. Manage and co-ordinate the inventories. Fulfillment of all the tasks assigned.
The following are details of my Areas of Effectiveness. Finance 1. Corporate Finance 2. Advanced Corporate Finance 3. Management of Financial Institutions 4. International Financial Management 5. Investments 6. Fixed Income 7. Real Estate Investment 8. Entrepreneurial Finance 9. Derivatives 10. Alternative Investments 11. Portfolio Management 12. Financial Statement Analysis And Reporting (US GAAP & IFRS) 13. International Financial Markets 14. Public Finance 15. Personal finance 16. Real estate 17. Financial Planning Quantitative Analysis 1. Time Value Of Money 2. Statistics 3. Probability Distribution 4. Business Statistics 5. Statistical Theory and Methods Economics 1. Principles of Economics 2. Economic Theory 3. Microeconomic Principles 4. Macroeconomic Principles 5. International Monetary Economics 6. Money and Banking 7. Financial Economics 8. Population Economics 9. Behavioral Economics International Business 1. Ethics 2. Business Ethics 3. An introduction to business studies 4. Organization & Management 5. Legal Environment of Business 6. Information Systems in Organizations 7. Operations Management 8. Global Business Policies 9. Industrial Organization 10. Business Strategy 11. Information Management and Technology 12. Company Structure and Organizational Management Accounting & Auditing 1. Financial Accounting 2. Managerial Accounting 3. Accounting for strategy implementation 4. Financial accounting 5. Introduction to bookkeeping and accounting Marketing 1. Marketing Management 2. Professional Development Strategies 3. Business Communications 4. Business planning 5. Commerce & Technology Human resource management 1. General Management 2. Conflict management 3. Leadership 4. Organizational Leadership 5. Supply Chain Management 6. Law 7. Corporate Strategy Creative Writing 1. Analytical Reading & Writing Other Expertise 1. Risk Management 2. Entrepreneurship 3. Management science 4. Organizational behavior 5. Project management 6. Financial Analysis, Research & Companies Valuation 7. And any kind of Excel Queries
4.80+
150+ Reviews
230+ Question Solved
Related Book For
Ethical Obligations and Decision Making in Accounting Text and Cases
ISBN: 978-1259730191
4th edition
Authors: Steven Mintz, Roselyn Morris
Question Posted:
Students also viewed these Accounting questions
-
Multiple Choice Questions Select the best answer for each of the following questions and explain the reasons for your choice. a. If a CPA performs an audit recklessly, the CPA will be liable to third...
-
Match the important cases listed below with the appropriate legal precedent or implication. a. Hochfelder v. Ernst b. Escott v. BarChris Construction Corp. c. Credit Alliance v. Arthur Andersen & Co....
-
Assume that in a particular audit the CPAs were negligent but not grossly negligent. Indicate whether they would be liable or not liable for the following losses proximately caused by their...
-
Let a = (4, 5) and 6 = (-4,-2). Find the projection of b onto a. proj; b = =V
-
How might using electronic media to report project information lead to problems with control?
-
Multinational enterprises may diversify their operations along vertical, horizontal, and conglomerate lines within the host and source countries. Distinguish among these diversification approaches.
-
A periodic function \(F(t)\) is shown in Fig. 14.29. Use the values of the function \(F(t)\) at ten equally spaced time stations \(t_{i}\) to find (a) the spectrum of \(F(t)\) and (b) the mean square...
-
Winter Companys balance sheet at December 31, 2016, is presented below. During January 2017, the following transactions occurred. Winter uses the perpetual inventory method. Jan. 1 Winter accepted a...
-
During the year, TRC Corporation has the following inventory transactions. Date January 1 Transaction Beginning inventory April 7 Purchase July 16 Purchase October 6 Purchase Number of Unit Total...
-
According to the American Time Use Survey, Americans watched television each weekday for an average of 151 minutes in 2011 (Time, July 11, 2011). Suppose that this result is true for the 2011...
-
The court found that the addressing of audit reports to the shareholders, while not conclusive, is a strong indication that P&T intended the shareholders to rely upon them. Do you agree, in general,...
-
The court decision refers to the importance of the auditors' knowing about third-party usage of the audited financial statements. What role does such knowledge play in enabling auditors to meet their...
-
Voxland Industries purchased a computer for $10,000, which it will depreciate straight line over five years to a $1,000 salvage value . The computer will then be sold at that price. The companys...
-
Assume that a state government currently provides no child-care subsidies to working single parents, but it now wants to adopt a plan that will encourage labor force participation among single...
-
A study shows that for American high school dropouts, obtaining a General Equivalency Degree (GED) by part-time study after high school has very little payoff. It also shows, however, that for...
-
The concept of compensating wage premiums for dangerous work does not apply to industries like the coal industry, where the union has forced all wages and other compensation items to be the same....
-
The manager of a major league baseball team argues: Even if I thought Player X was washed up, I couldnt get rid of him. Hes in the third year of a four-year, $24-million deal. Our team is in no...
-
Based on the regression estimate in Problem 4, evaluate the statistical significance of the estimated coefficients in the regression. Problem 4 Suppose you have information on which of the 13...
-
The marginal price for a weekly demand of x bottles of shampoo in a drugstore is given by Find the pricedemand equation if the weekly demand is 150 when the price of a bottle of shampoo is $8. What...
-
Write the given system without the use of matrices. D) - ()- d (x sin t + 8 (2+ 1)
-
We all know people who say, Dont bother me with the facts. Ive already made up my mind. How might such an attitude influence judgment tendencies of auditors?
-
At the very center of the KPMG framework is __________. a. Attitude b. Professional skepticism c. Mindset d. Confidence tendency
-
1. Identify any potential threats to judgment you think could exist based on the facts of the case? 2. Thinking back to the biases discussed in Chapter 2, what biases might the identified threat(s)...
-
Question 1: How do strategy and tactical action relate to each other in an organization? Question 2: How can you improve the implementation of strategy in this business organization?...
-
Larkin Corporation sells products for $125 each that have variable costs of $50 per unit. Larkin's annual fixed costs are $430,000. (10 points Total) a. What is Larkin's contribution margin per unit?...
-
Find the determinant of the linear transformation T(M): [3] M from the space V of 22 upper triangular matrices to V.
Study smarter with the SolutionInn App