Problem

N. Lauren hires D. Humphrey, CPA, to audit her financial statements. The engagement letter...

N. Lauren hires D. Humphrey, CPA, to audit her financial statements. The engagement letter includes a statement acknowledging that audited financial statements are required to be filed with a regulatory body by October 1. Humphrey does not complete the audit until October 5. Lauren is late filing the financial statements and is fined $100,000 by the regulatory body. Lauren would most likely sue Humphrey claiming

A. Breach of contract.

B. Ordinary negligence.

C. Gross negligence.

D. Constructive fraud.

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