Kaufman & Kaufman conducted an audit of Brady MVP Co., a publicly held corporation, in which it
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In deliberations, the jury has come to the conclusion that they are more than 50% sure that Kaufman & Kaufman should have detected the fraud in the course of their audit work. However, they are not 100% sure that the firm is in fact negligent.
Even though they conducted the audit in accordance with PCAOB standards, can the jury still find Kaufman & Kaufman negligent? Is the jury’s level of assurance concerning the firm’s guilt sufficient to hold the firm negligent? Would your answer change if it were a criminal case?
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Related Book For
Auditing and Assurance Services Understanding the Integrated Audit
ISBN: 978-0471726340
1st edition
Authors: Karen L. Hooks
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