The historic Ultramares doctrine is still the standard followed by most modern courts in deciding cases of accountants' liability.

Question

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The Ultramares doctrine, which limits the liability of accountants for negligence to third-party users with whom the accountant had privity of contract or a relationship approaching that of privity, has been largely rejected by modern courts. Most modern courts now follow the Restatement (Second) of Torts, which expands liability to foreseeable third-party users who rely on the accountant's work.

The Historic Ultramares Doctrine Is Still the Standard Followed by Most