Auditors do not face legal exposure related to their client's filings of Form 10-Q quarterly information or Form 8-K unusual events with the Securities and Exchange Commission like they do for annual report filings under the Securities Exchange Act of 1934.

Question

Quizplus · Accepted Answer

Auditors can face legal exposure for their client's filings of Form 10-Q and Form 8-K with the SEC, as these documents often include financial information that the auditors have reviewed or audited, and inaccuracies or misrepresentations can lead to legal consequences for the auditors under securities laws.

Auditors Do Not Face Legal Exposure Related to Their Client's