Jean and Cheramy, LLC, a firm of CPAs, has been the auditor of Moose Pix for five years. Moose Pix is a non-public corporation that coordinates wildlife sightseeing tours in the area around Jackson, Wyoming. Moose Pix is well known for leading amateur photographers into areas where they are likely to be able to photograph at least one moose.
a. What are the proofs required of a plaintiff in a common law cause of action against an auditor for negligence? In other words, what must the plaintiff prove?
b. The auditors did not perform pursuant to their own (for example, PCAOB, AICPA) professional standards.