Which of the following is true regarding states adhering to the privity or near-privity rule for third party liability of accountants?

Question

Quizplus · Accepted Answer

The privity or near-privity rule, which restricts an accountant's liability to third parties to those in privity or near privity with the accountant, is only followed by a few states. This means that most states have adopted broader standards for determining an accountant's liability to third parties, moving away from the strict privity requirements.

Which of the Following Is True Regarding States Adhering to the Privity