The main basis of liability for accountants is the duty to exercise ordinary skill and care.

Question

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The duty to exercise ordinary skill and care is the main basis of liability for accountants, as they are expected to meet a certain standard of competence and care in their work. This duty is based on the profession's code of ethics and professional standards, and failure to meet this duty can result in legal liability for the accountant.

The Main Basis of Liability for Accountants Is the Duty