Answer the following questions or discuss the following statements.

a. It seems that every time a legal challenge is made to an audit, CPAs either lose the case or are embarrassed about the facts uncovered during the audit.

b. It is possible to audit a company’s financial statements if top management decides to be dishonest with the auditor?

c. Can financial statements be in accord with generally accepted accounting prin¬ ciples and not be fair?

d. In what ways have recent court cases changed the effects of the Ultramares case rulings? Reaffirmed the effects? Name the cases and the specific effect of each case.

e. In what ways has the Hochfelder case limited auditors’ legal liability? In what way has this case left their legal liability intact?

f. How has the RICO law increased auditors’ legal liability?