Which of the following is the best defense that a CPA can assert against common law litigation by a stockholder claiming fraud based on an unqualified opinion on materially misstated financial statements?

Question

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The best defense that a CPA can assert against common law litigation by a stockholder claiming fraud based on an unqualified opinion on materially misstated financial statements is lack of gross negligence. This defense asserts that the CPA did not act with reckless disregard or intentional misconduct and therefore did not commit fraud. Lack of due diligence and contributory negligence may not be effective defenses in cases of fraud, and a disclaimer in the engagement letter may not be sufficient to protect against a claim of fraud.

Which of the Following Is the Best Defense That a CPA