Question
32
Roll your cursor over each basic standard of liability and, based on the hint given, choose the correct act. Auditors must pr
0 0
Add a comment Improve this question Transcribed image text
Answer #1
  1. Auditors must prove due diligence - 1933 Act,
  2. Third party must prove existence of scienter - 1934 Act
  3. Auditors must prove good faith - 1934 Act
  4. Auditors must prove due diligence - 1933 Act.

This is a general knowledge question and won't require any explanation.

Add a comment
Know the answer?
Add Answer to:
32 Roll your cursor over each basic standard of liability and, based on the hint given,...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Roll your cursor over each and, based on the hint given, match the established precedent to...

    Roll your cursor over each and, based on the hint given, match the established precedent to the correct Third Party Liability Approach. Auditors must prove due diligence Ultramares Approach Restatement Approach Rosenblum Approach Auditors must prove due diligence Third party must prove existence of scienter

  • Read the overview below and complete the activities that follow. Common law cases are decided often...

    Read the overview below and complete the activities that follow. Common law cases are decided often by reference to established precedents or past decisions. The three main precedents regulating auditors' liability are: Ultramares (known user). Restatement (foreseen user), and Rosenblum (foreseeable user). CONCEPT REVIEW: The three approaches that regulate auditor responsiblity create conflicting precedents relative to auditor liability for negligence. Variants of each approach exist in every state, Part 1 - Drag and Drop Roll your cursor over each and,...

  • Tinder the Ultramares rule, an accountant that negligently prepares a client's financial report will be liable...

    Tinder the Ultramares rule, an accountant that negligently prepares a client's financial report will be liable to clients and any person or limited foreseeable class of persons who the CPA knows will be relying on the CPA's work. (7) persons in privity of contract with the CPA and intended third parties. 13 clients and any third party that foreseeably relied on the accountant's report. (4) the client only. Yn di or DISCUSSION QUESTIONS AND PROI G.IZOBJECTIVES 5-3,5-4,5-5,5-6) Following are eight...

  • TRUE/FALSE ___1. A reference to “RCW 4.12.020" means that a statute can be found on page...

    TRUE/FALSE ___1. A reference to “RCW 4.12.020" means that a statute can be found on page 12 of volume 4 of the Revised Code of Washington, part 20. ___2. The United States Congress has adopted one particular approach to ethics, and made it a part of the United States Code; all United States businesses must follow only those statutes in the United States Code, and are not allowed to determine what their businesses’ approaches to ethics will be. ___3. An...

  • Comprehensive Income Tax Course: Module 1 4. Randy turned 16 last year and had his first...

    Comprehensive Income Tax Course: Module 1 4. Randy turned 16 last year and had his first summer job. Even though his parents are claiming him as a dependent he wants to file a return in order to get his refund. He receives his W-2 and decides he can do his own return using form 1040-EZ. Which of the following information is not found on a Form W-2? a) The taxpayer’s Social Security number b) The taxpayer’s wages, tips and other...

  • Please read the article and answer about questions. You and the Law Business and law are...

    Please read the article and answer about questions. You and the Law Business and law are inseparable. For B-Money, the two predictably merged when he was negotiat- ing a deal for his tracks. At other times, the merger is unpredictable, like when your business faces an unexpected auto accident, product recall, or government regulation change. In either type of situation, when business owners know the law, they can better protect themselves and sometimes even avoid the problems completely. This chapter...

  • CASE 20 Enron: Not Accounting for the Future* INTRODUCTION Once upon a time, there was a...

    CASE 20 Enron: Not Accounting for the Future* INTRODUCTION Once upon a time, there was a gleaming office tower in Houston, Texas. In front of that gleaming tower was a giant "E" slowly revolving, flashing in the hot Texas sun. But in 2001, the Enron Corporation, which once ranked among the top Fortune 500 companies, would collapse under a mountain of debt that had been concealed through a complex scheme of off-balance-sheet partnerships. Forced to declare bankruptcy, the energy firm...

  • Case: Enron: Questionable Accounting Leads to CollapseIntroductionOnce upon a time, there was a gleaming...

    Case: Enron: Questionable Accounting Leads to CollapseIntroductionOnce upon a time, there was a gleaming office tower in Houston, Texas. In front of that gleaming tower was a giant “E,” slowly revolving, flashing in the hot Texas sun. But in 2001, the Enron Corporation, which once ranked among the top Fortune 500 companies, would collapse under a mountain of debt that had been concealed through a complex scheme of off-balance-sheet partnerships. Forced to declare bankruptcy, the energy firm laid off 4,000...

  • Read “Instituionalizing our Demise: America vs Multiculturalism” by Roger Kimball on pg 268 and “Reinventing America”...

    Read “Instituionalizing our Demise: America vs Multiculturalism” by Roger Kimball on pg 268 and “Reinventing America” Call for a new national indentity” by Elizabeth Martinez on pg 275. Create a double entry notebook for each reading selection It should be atleast five observation and responses. wric 268 PART 2 essay pro. exactly how and why their authors disagree. Instead of with parties in conflict as mediators do, you will nt of view designed to appeal to both sides, mediatn posing...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
Active Questions
ADVERTISEMENT