It is clear from s. 199A of the Corporations Act that auditors:
A) have the defence of contributory negligence available to them.
B) can design clauses in letters of engagement to exempt or indemnify an auditor from or against any legal liability that would otherwise attach are valid.
C) cannot contract out of their duty to client companies.
D) all of the above
Correct Answer:
Verified
Q59: The statutory requirements for independence mean an
Q60: Auditors are affected by laws that have
Q61: What is the role of the FRC
Q62: Common law generally allows auditors to withhold
Q66: If an auditor's suspicion of fraud is
Q68: An example of auditor legal liability to
Q73: In Al Saudi Banque, a duty of
Q75: When the auditors have followed Australian auditing
Q78: Proportionate liability is the risk an auditor
Q84: Explain how an auditor might be able
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents