Which of the following is false regarding compliance with GAAP and GAAS?
A) In some circumstances,a reasonable,competent accountant would do more than that the GAAP or GAAS requires.
B) State statutes may not impose additional legal requirements on accountants beyond GAAP and GAAS.
C) Failure to comply with GAAP and GAAS will almost certainly constitute a breach of duty.
D) GAAP standards are established by the Financial Accounting Standards Board,and GAAS standards are established by the American Institute of Certified Public Accountants.
E) Compliance with GAAP and GAAS does not automatically mean that the duty of care has been met.
Correct Answer:
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