Problem

Which of the following parties is most likely to recover losses resulting from acts of ord...

Which of the following parties is most likely to recover losses resulting from acts of ordinary negligence from auditors?

A. Third parties that auditors should have foreseen could rely on the client’s financial statements.

B. The auditors’ client.

C. Purchasers and sellers of securities under the Securities Exchange Act of 1934.

D. Third parties whose reliance on the client’s financial statements was reasonably foreseeable.

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