Historically, auditors' liability in Canada has been based on common law liability.

Question

Quizplus · Accepted Answer

This is because in Canada, auditors' liability is primarily governed by common law and not by statute or regulation. Common law liability refers to the legal principles and precedents established by court decisions rather than by written law. As such, auditors can be held liable for breach of duty, negligence, and fraud under the common law framework.

Historically, Auditors' Liability in Canada Has Been Based on Common