A group of investors sued Anderson,Olds,and Watershed,CPAs (AOW)for alleged damages suffered when the entity in which they held common stock went bankrupt.To avoid liability under the common law,AOW must prove which of the following?

Question

Quizplus · Accepted Answer

AOW can avoid liability by proving that the audit was conducted in accordance with generally accepted auditing standards and with due care, demonstrating that they fulfilled their professional responsibilities.

A Group of Investors Sued Anderson,Olds,and Watershed,CPAs (AOW)for Alleged Damages