Auditors who fail to exercise due care in their performance of professional services may be liable for:

Question

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Auditors who fail to exercise due care in their performance of professional services may be liable for breach of contract, as they are not meeting their obligation to perform their services with the standard of care that is expected of them under the terms of the contract. Punitive liability and criminal charges would only come into play in cases where the auditor's actions were willful or in bad faith. Excess liability is not a commonly used term in the context of auditor liability.

Auditors Who Fail to Exercise Due Care in Their Performance