Under the 1933 Securities Act, the burden of proof is on the auditor to show that he or
she was not negligent.

Question

Quizplus · Accepted Answer

Under the 1933 Securities Act, auditors are presumed liable for any misstatements in a registration statement unless they can prove they conducted a reasonable investigation and had reasonable grounds to believe the statements were true, effectively placing the burden of proof on them.

Under the 1933 Securities Act, the Burden of Proof Is