An accountant who conforms to generally accepted auditing standards and acts in good faith will most likely not be liable to a client for incorrect judgment.

Question

Quizplus · Accepted Answer

Generally accepted auditing standards allow for the use of professional judgment, and as long as the accountant acts in good faith and in accordance with these standards, they are typically not held liable for judgments that later prove to be incorrect.

An Accountant Who Conforms to Generally Accepted Auditing Standards and Acts