Accountants can be held liable for negligence in preparing unaudited financial statements.

Name: Accountants can be held liable for negligence in preparing unaudited financial statements.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Accountants have a duty to exercise reasonable care and skill in preparing financial statements, whether or not they are audited. If they are found to have been negligent in their work, they can be held liable for any resulting harm.

Accountants Can Be Held Liable for Negligence in Preparing Unaudited