Auditing & Assurance Services 6th Edition by Timothy Louwers

تمرين 202

An investor seeking to recover stock market losses from a CPA firm associated with an initial offering of securities based on an unmodified opinion on financial statements that accompanied a registration statement, must establish that
A) The audited financial statements contain a false statement or omission of material fact.
B) The investor relied on the financial statements.
C) The CPA firm did not act in good faith.
D) The CPA firm would have discovered the false statement or omission if it had exercised due care in its examination.