Historically, an accountant's liability for negligence extended only to the client and third party beneficiaries.

Question

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Historically, an accountant's liability for negligence was limited to their clients and any third parties who were intended beneficiaries of the accountant's work. This principle was established to limit the potential for unlimited liability to any party that might use the accountant's work.

Historically, an Accountant's Liability for Negligence Extended Only to the Client