Whether third parties have a claim against an accountant on the basis of their reliance upon negligently prepared financial statements is the same in all states because it is governed by federal law.

Question

Quizplus · Accepted Answer

The ability of third parties to claim against an accountant for negligently prepared financial statements varies by state, as it is governed by state law rather than federal law. Different states have different standards and rules regarding the liability of accountants to third parties.

Whether Third Parties Have a Claim Against an Accountant on the Basis