Which of the Following Is False Regarding the Private Securities

Which of the following is false regarding the Private Securities Litigation Reform Act?

A) The act sets forth a specific set of actions and guidelines an accountant must follow after identifying a potentially illegal activity when conducting an audit.
B) The act makes no reference to notifying the SEC of wrongdoing although it does reference notifying the applicable company's board of directors.
C) The act states that accountants are liable for the portion of the damages for which they are responsible.
D) In the event of a willful violation of the act, the SEC can seek an injunction against the accountant.
E) Under the act, an accountant's silence when the accountant thinks he or she might have discovered fraud is enough to constitute aiding and abetting.