Question: Define and explain privity, primary beneficiary, foreseen party, and foreseeable party in terms of the degree of failure to exercise the appropriate level of professional

Define and explain privity, primary beneficiary, foreseen party, and foreseeable party in terms of the degree of failure to exercise the appropriate level of professional care on the part of auditors that would trigger the liability.

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Privity refers a situation in which parties have a contractual relationship Auditors owe contracting ... View full answer

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