Describe the two auditing implications of the (U l ) tramares case as shown in Figure 4 3 FIGURE 4 3 Common Law Relationships Established by the Ultramares Case Auditor's Liability under Common Law To the Auditor's Client Auditors are liable to the client for ordi nary negligence To a Third Party f...

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Describe the two auditing implications of the (U l) tramares case as shown in Figure 4.3. FIGURE

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Describe the two auditing implications of the $U l$ tramares case as shown in Figure 4.3. image text in transcribed

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Auditing An Assertions Approach

ISBN: 9780471134213

7th Edition

Authors: G. William Glezen, Donald H. Taylor

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Question Posted: May 07, 2024 02:00 AM

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Describe the two auditing implications of the (U l) tramares case as shown in Figure 4.3. FIGURE

Question:

FIGURE 4.3 Common Law Relationships Established by the Ultramares Case Auditor's Liability under Common Law To the Auditor's Client Auditors are liable to the client for ordi- nary negligence. To a Third Party for Gross Negligence Auditors might be liable to a third party for gross negligence.

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Auditing An Assertions Approach

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