Compliance with GAASs automatically relieves auditors of liability to clients in negligence cases.

Name: Compliance with GAASs automatically relieves auditors of liability to clients in negligence cases.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Compliance with GAASs is just one factor to be considered in determining whether an auditor has acted negligently. The auditor may still be held liable if they do not conduct the audit with due care and skill, regardless of compliance with GAASs.

Compliance with GAASs Automatically Relieves Auditors of Liability to Clients