Describe some civil and criminal consequences if CPAs/auditors fail to follow professional standards. Summarize some things that
Fantastic news! We've Found the answer you've been seeking!
Question:
- Describe some civil and criminal consequences if CPAs/auditors fail to follow professional standards.
- Summarize some things that CPAs can do to limit their liability and prevent lawsuits.
- Determine whether the liability risk to CPAs/auditors is appropriate, too high, or too low.
Expert Answer:
auditor may be liable to a customer for ordinary or gross negligence Ordinary negligence is the failure to exercise due professional care including ad... View the full answer
Posted Date:
