Section 11(a)of the Securities Act of 1933 holds accountants liable for omissions of material facts in registration statements regardless of the accountant's intentions.

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Section 11(a) of the Securities Act of 1933 imposes strict liability on accountants for omissions of material facts in registration statements, regardless of their intentions or knowledge. This means that accountants can be held liable even if they did not intend to deceive anyone and had no knowledge of the material omissions.

Section 11(a)of the Securities Act of 1933 Holds Accountants Liable