The landmark case that stated criteria for auditors' liability to third parties for gross negligence or fraud,but not ordinary negligence,was
A) Smith v. London Assurance Corp.
B) Ultramares Corp. v. Touche.
C) 1136 Tenants' Corp. v. Max Rothenberg & Co.
D) McKesson & Robbins Inc.

Question

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Ultramares Corp. v. Touche was a landmark case in which the court stated criteria for auditors' liability to third parties for gross negligence or fraud, but not for ordinary negligence.

The Landmark Case That Stated Criteria for Auditors' Liability to Third