Which of the following is a major difference in auditors liability under the Securities Act of 1933

Question:

Which of the following is a major difference in auditors’ liability under the Securities Act of 1933 and the Securities Exchange Act of 1934?
a. The burden of proving reliance on misstated and the relationship between these and the economic loss.
b. The auditors’ required degree of professional care.
c. Both of the above.
d. None of the above.

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...