In third-party suits, which of the auditor's defenses contends lack of privity of contract?

Question

Quizplus · Accepted Answer

Lack of privity of contract is a defense that argues that the auditor does not owe a duty of care to the third-party since they did not have a contractual relationship with them. This defense falls under Lack of Duty as it argues that the auditor had no duty to the third-party since they were not a party to the contract.

In Third-Party Suits, Which of the Auditor's Defenses Contends Lack