To succeed in obtaining a judgment, the bank would have to prove these three things as part of a five-step process.

a. False representation by the accountant; belief by the accountant the representation was accurate; the accountant intended to induce the third party to rely on accurate representation

b. Knowledge or belief by the accountant the representation was false; that the accountant intended to induce the third party to rely on false information; that the third party relied on false information

c. Accountant intended the third party to rely on accurate representation; that the third party relied on the accurate representation which was later proved false; that the third party suffered damages

d. That the third party suffered damages; an accurate representation by the accountant; knowledge or belief by the accountant that the representation was accurate