Criminal liability for accountants
A)is not an option under securities law;there is only civil liability.
B)is possible under the Securities Act of 1933,the 1934 Act,state securities laws,and the Internal Revenue Code.
C)may result in fines but not imprisonment from violation of the federal securities laws.
D)will result from violation of the accountant-client privilege under federal law.

Question

Quizplus · Accepted Answer

Criminal liability for accountants is possible under several laws, including the Securities Act of 1933, the 1934 Act, state securities laws, and the Internal Revenue Code. Violations of these laws can result in fines and even imprisonment. However, there is no criminal liability for violating the accountant-client privilege under federal law.

Criminal Liability for Accountants