A clien retains a CPA firm to audit the financial statements required by a bank as a condition to extending a loan to the client. The auditor knows the bank is the client's principal lender and i aware of the bank's reliance on the financial statements particulary the valuation of accounts receivable. The bank and auditor have direct oral and wrtten communication during the lending period and have met to discuss the client's financial statements. Discuss wheter the bank has a legitimate cause of action agains the auditor and the legal principle that supports such an action.