Typical defenses for auditors in common law actions include all of the following,except
A) the plaintiff was foreseen.
B) the plaintiff contributed to the failure to detect material misstatements.
C) the financial statements were not materially misstated.
D) the audit was conducted in accordance with generally accepted auditing standards.

Question

Quizplus · Accepted Answer

The other options are all typical defenses for auditors in common law actions. However, foreseeability of harm is not typically a defense for auditors, as they have a duty of care to potential plaintiffs regardless of whether they can foresee potential harm.

Typical Defenses for Auditors in Common Law Actions Include All