Privity letters are issued by auditors to:
A)limit the auditor's liability to a specified amount.
B)disclaim any liability.
C)establish proximity and foreseeability.
D)None of the given answers are correct.

Question

Quizplus · Accepted Answer

Privity letters are issued by auditors to establish proximity and foreseeability, which helps define the scope of parties to whom the auditor may be liable.

Privity Letters Are Issued by Auditors To