Gamma Company asks Prudent Prime Westin LLP (PPW),a CPA firm,to audit its financial statements.Gamma tells PPW that it plans to use the statements to obtain a loan from Fain Bank.PPW prepares the statements.Gamma uses the statements to obtain a loan from Shaw Bank.The statements falsely state Gamma's financial position due to PPW's negligent preparation of them.When Gamma defaults on the loan,Shaw Bank sues PPW under the common law of negligence.Does PPW have liability to Shaw Bank under the rule of Ultramares? Does PPW have liability to Shaw Bank under the rule of the Restatement (Second)of Torts?

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The Answer of Gamma Company asks Prudent Prime Westin LLP (PPW),a CPA firm,to audit its financial statements.Gamma tells PPW that it plans to use the statements to obtain a loan from Fain Bank.PPW prepares the statements.Gamma uses the statements to obtain a loan from Shaw Bank.The statements falsely state Gamma's financial position due to PPW's negligent preparation of them.When Gamma defaults on the loan,Shaw Bank sues PPW under the common law of negligence.Does PPW have liability to Shaw Bank under the rule of Ultramares? Does PPW have liability to Shaw Bank under the rule of the Restatement (Second)of Torts?

Gamma Company Asks Prudent Prime Westin LLP (PPW),a CPA Firm,to