If the plaintiff did not rely on the financial statements, the auditor can use this as a valid defense.

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If the plaintiff did not rely on the financial statements, then the auditor can argue that they cannot be held responsible for any damages caused. This is because the objective of an audit is to provide reasonable assurance that the financial statements are free from material misstatements, and if the plaintiff did not rely on them, then the audit was not intended to benefit them. However, it is worth noting that this defense may not be successful in all cases and will depend on the specific circumstances of the lawsuit.

If the Plaintiff Did Not Rely on the Financial Statements