If an accountant follows the GAAS or GAAP guidelines, it will automatically lead to his or her vindication in a court of law.

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Quizplus · Accepted Answer

Unfortunately, that is not always true. Just because an accountant follows the GAAS or GAAP guidelines does not automatically lead to his or her vindication in a court of law. It is always possible that an accountant can follow the proper principles and procedures, yet still make other errors that lead to liability.

If an Accountant Follows the GAAS or GAAP Guidelines, It