Problem

Which of the following would third parties not need to demonstrate when bringing suit agai...

Which of the following would third parties not need to demonstrate when bringing suit against auditors for losses sustained under the Securities Act of 1933?

A. Auditors were aware of the materially misstated financial statements.

B. Third-party purchasers suffered a loss.

C. The client’s financial statements contained a material misstatement.

D. Purchasers would need to demonstrate all of the above.

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