Which of the following statements about the Securities Act of 1933 is not true? a. Third parties

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Which of the following statements about the Securities Act of 1933 is not true?

a. Third parties must prove that the auditor was guilty of negligence.

b. Third parties' prima facie case is an alleged false statement or misleading omission in the audited financial statements

c. Third parties do not have to prove that their investment losses were caused by the false statement or misleading omission in the audited financial statements.

d. The auditor's potential liability extends to the effective date of the registration statement.

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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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Which of the following statements about the Securities Act of 1933 is not true? a. Third parties

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The statement that is not true about the Securities Act of 1933 is c Third parties do not have to pr...View the full answer

Auditing An Assertions Approach

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