Which of the following may an auditor use as a defense under the Securities Act of 1933?
A) Contributory Negligence
B) Scienter
C) Due Care
D) Immaterial loss

Question

Quizplus · Accepted Answer

An auditor may use due care as a defense under the Securities Act of 1933. Due care means that the auditor performed their responsibilities with reasonable diligence and skill. Contributory negligence, scienter, and immaterial loss are not valid defenses under the Act.

Which of the Following May an Auditor Use as a Defense