In some states, exculpatory clauses cannot protect the accountant from a suit brought by a third party.

Name: In some states, exculpatory clauses cannot protect the accountant from a suit brought by a third party.
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Question

Quizplus · Accepted Answer

This is true. Some states do not allow exculpatory clauses to protect accountants from lawsuits brought by third parties, particularly in cases of gross negligence or intentional misconduct. In these states, accountants may still be held liable for their actions.

In Some States, Exculpatory Clauses Cannot Protect the Accountant from a Suit