When an accountant has not followed generally accepted auditing standards,which of the following is true?

Question

Quizplus · Accepted Answer

When an accountant has not followed generally accepted auditing standards, there is a legal concept called "negligence per se" which presumes that the accountant is negligent. However, the accountant may be able to rebut this presumption if they can prove that they had a justified reason for not following the standards. Therefore, choice B is the best answer. Choices A and C are incorrect because just because the accountant did not follow the standards, it does not automatically mean they are liable for any losses suffered by users of the financial statements. Choice D is also incorrect because not following the standards would not necessarily result in the loss of the accountant's license.

When an Accountant Has Not Followed Generally Accepted Auditing Standards,which