An accountant's legal liability is imposed both by the common law at the state level and by securities laws at the federal level.

Name: An accountant's legal liability is imposed both by the common law at the state level and by securities laws at the federal level.
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An accountant's legal liability is imposed by both common law at the state level (such as negligence and breach of contract claims) and by federal securities laws (such as the Securities Act of 1933 and the Securities Exchange Act of 1934).

An Accountant's Legal Liability Is Imposed Both by the Common